Nifty opened gap up at 7561 but failed to sustain at higher levels and trade with weakness for rest of the day. Nifty declined more than 130 points from day’s high to register day’s low of 7427 before closing huge 99 points down at 7437.
On Friday, I expected a decline below 7425 again without breaking above 7633 and suggested to buy Nifty puts as stoploss was huge. Nifty declined till 7427 without breaking above 7633 and all Nifty put were near to double. Let’s have a fresh look at latest Nifty charts for latest scenario.
Read more at http://sweeglu.com/nifty-can-bounce-till-8200-8400-followed-by-crash-again-analysis-on-17-jan-2016/