A Market sans Sparks or Dazzle

The price action of the market since last Thursday has been mixed with hardly any action. The only notable feature was the Nifty crossing its swing high and India VIX dwindling. That ought to have accounted for more action upward and it was a matter of time before Nifty scaled to its all-time high but it didn’t as the bulls couldn’t work on that advantage. This emboldened the bears to try their hand at pressing the price lower and the bears hit the bull hard as the Nifty slipped below the important psychological level of 18,000 on an intra-day basis only to recover later and close above the 18,000 mark.