May 3, 2017

Nifty can Bounce Towards 9380-9449 in Coming Sessions

Nifty opened higher at 9339 and bounced to register day’s high 9352 but failed to sustain at higher levels and declined by more than 80 points from day’s high to register day’s low 9369 before closing 9 points up at 9313.

Yesterday, same 9257 was the reversal point and stoploss for all longs and sharp bounce towards 9406-9470 was expected in coming days. Suggested to buy Nifty if trades above opening price at 9:31 AM OR buy positional if decline towards 9275-9257 using stoploss of 9549.

Nifty was trading around opening price (in 9338-9342 range, not clearly above opening price). So, if someone bought at 9:31 AM may have loss of 15-18 points but Nifty declined further in 9275-9257 range and positional buying levels triggered. Nifty bounced from 9275-9257 range (from 9269) and closed at 9313. Let’s have fresh look at latest charts for further scenario.


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