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Nifty on Friday touched a low of 9449 and bounced and closed at 9520. Currently it is at the resistance 9525. Going Above 9525, bulls can drive Nifty higher. Next Resistance at 9580. If Nifty doesn't go above 9525, it may fall below previous low of 9449. FNO data suggests that FIIs are bearish and DII are bullish. In cash segment, DII has bought Rs.1195 crore of stocks, much higher than sell figure of FII ie, Rs.160 crore. So, DIIs could have upper hand.
Globally, markets have stopped falling and entered into a sluggish move in a trading range.

Trade Setup: Wait for 15 min of trade. Judge if market goes above 9525, We would enter straddle by selling Put options. We are already short in the market by Selling 9600 CE. The same would be hedged by selling Put 9400. Once market decides clear direction, the loosing side of the straddle would be taken out.

Nifty Analysis 29-Jun-17
The predicted resistance level of 9568 was respected by Nifty. The upmove got truncated near 9575 and fell. This completed 4th leg of Elliot Wave, Now the 5th and final leg of this bigger down move, which started from 9698, is under progress. The Harmonic BAT pattern is being played out to its perfection. The estimated end point of the down move is 9385. Important support thereafter is at 9284 which is 23.6% of retracement of previous upmove from 7893.

Globally, Markets have fallen 1.5% to 2%. This is suggesting we would have gap down. Currently SGX Nifty of new series has not opened yet and hence, no indication from that side.

Trade Setup for 30-Jun-2017: Those who already hold short can continue to hold. Fresh position on long side can be initiated once this pattern completes.

Nifty Analysis 27-Jun-17
Nifty is forming Harmonic Bat Pattern, the completion at point D is expected at 9384. Further 23.6% retracement of the move from lows of 26-Dec-16 is at 9282. So the pattern will complete between 9384 – 9282. Third leg of Elliot wave completed at 9472. Leg 1 and 3 are of 135 points approx and leg 4 is going on. So final leg 5 is remaining which would complete the Bat Pattern near 9384.