“Bearish on Nifty 50 in the near term, recommending short positions below 23,950. This is due to weak global cues, crude oil prices above $90, and a potential rise in India VIX to 14-15 if Nifty trades below the 24,000 support level, which has the largest put base for the September series. The next support is at 23,500.”

Jay Thakkar’s track record: 5 graded calls · 95% CI 12–77%