October 17, 2016

Nifty have Possibility to Bounce Sharply on 17 Oct 2016

Nifty opened mild gap up on Friday at 8594 and declined sharply to register day’s low 8549 but traded with positive bias later for the day. Nifty bounced gradually from morning low to register day’s high 8604 before closing 10 points up at 8583.

Friday, there was no particular trading strategy suggested but just mentioned that “I would like to buy Nifty Nov 8900 Call before closing on Friday if see Nifty below 8550” and further 8618 was suggested as point for any short term reversal and stoploss for shorts. Nifty declined below 8550 and traded below 8618 for whole day. Let’s have a fresh look at latest charts for further scenario.

Read more at http://sweeglu.com/nifty-have-possibility-to-bounce-sharply-on-17-oct-2016/

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