Nifty Daily View 12th May 2020

Nifty Daily View:
After completion of the corrective upward pattern, Nifty has formed bar reversal formation. Its a bearish formation for the market as in this case buyers loses their entire grip on the market. We can expect further weakness in the near term.
The strategy should be to sell Nifty if it bounces to the level of 9250. Support exists at 9170, 9100 and at 9000. For that keep stop loss at 9350. Buy Put options of Monthly expiry if Nifty breaks the level of 9100.