Morning update Fri, 12th Dec:

Morning update Fri, 12th Dec:

Yesterday, nifty failed to close above 2950 and it was mentioned in chat room to initiate fresh shorts / puts (2900PE&2800PE).
Today, expect the nifty to open weak and the 2860 levels would be important to watch. The breach of 2860 and trade below it would pull it to retest the last week high at 2832 and 2800 levels.
The next 3days till Wed 17th would be favorable for bears and the traders should hold shorts/ puts as well add more on breach of major supports.