War panic continued but support emerged from low level

Today Nifty 50 opened gap down by about 500 points indicating high level of panic due to the ongoing conflict in the middle east region. It went down to below the 29th Aug, 2025 low price of 24400 and almost touched the 24300 level. Thereafter some strong support came and bounced back from there.

Towards the end of the day Nifty made new high and reached beyond 24600. However, again in the last 30 min it retraced down and closed at 24480. This close is higher than the 29 Aug close, which is positive for the sentiment.

The MHAF spreadsheet above showing the continuation of the bearish trend with a stop loss near 25500 which is still far away. The hypothetical short future trade (we are comparing with the actual portfolio performance) is now gaining exactly 1000 points (shorted at 25580 and now March Future price is 24578). In the our actual portfolio, where we are using a combination of F & O, we didn't have to take any action today. Our breakeven price to the upside is still Nifty 50 spot at 25854 and comfortably away.

Today India Vix went up by 23.5% and this badly harmed our profitability. If the market moves higher tomorrow or stays at this level for a few days, hopefully Vix will collapse and we will reach our profit target soon which is about 80% of the potential maximum profit. Until then, we just hold the positions and watch. Happy trading. Cheers.