May 20, 2017

Nifty can Decline Further Towards 9372-9357 in Coming Sessions

Nifty opened huge gap down at 9453 and bounced just after opening to register day’s high 9489 but failed to sustain at higher levels and declined back by more than 100 points to register day’s low 9418 before closing 96 points down at 9429.

Yesterday, I mentioned the possibility of small or big correction very soon and suggested to hold Nifty May 9450 put taken in 40-45 range on Tuesday. Nifty declined by more than 100 points as expected and Nifty 9450 put bounced till 62. Let’s have a fresh look at latest charts for further scenario.


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