Well, to be frank, since, 10175 level in nifty is now gone convincingly, I am not sure how deep this minor corrective wave will go. But this has surely boosted the level of confidence of shorters. I can tell you that if it did not stop in the next couple of days, then surely we can see surge in VOLATILITY.
Tomorrow (being weekly BN expiry) shall be challenging for optionwriters as well. There is a lot to manage for them. They not only have to manage (or manipulate) VIX while eating option premiums, but they also need to tackle the gradually correcting market in order to control VOLATILITY. Good Luck friend!!