Some cool off in India VIX could be expected after the political outcome becomes apparent.
The recent resistance witnessed by the market could be the result of profit taking from traders who expect some resistance at the 8,250-8,280 levels but the bias in the October series remains on the upside, says Vineet Bhatnagar, MD of PhillipCapital.
In the previous fortnight, the markets were driven by key global and domestic events. Globally, Greece went to polls while in India, the Reserve Bank of India (RBI) announced the mid-quarter monetary policy review.
The political uncertainty in Greece has increased the possibility of its exit from the European Union, resulting in risk aversion, which has weighed on the global equity markets.
Bull Call Spread option trading strategy is used by a trader who is bullish in nature and expects the underlying asset to give decent returns in the near future.