Looking at the daily chart of Nifty Future from a Low of 7896.35 made on 26th Dec 2016 to the high of 10149.9 made on 1st August 2017 appears to be a five wave structure (Elliott wave theory) implying that a correction may take place up to the start of wave 5 which is at 9451.5 level.
The daily chart posted here shows my expected price projection in days to come with reference to the price action from the start of 26 December 2016.
I will wait for a correction to happen near 9980 regions to initiate a short position. I do not advise any positional trade till then.
For intra-day trade, buy it above 9910 with a stop loss of 9879 for a target of 9969 & 10010. Sell it below 9885 with a stop loss of 9911 for the target price of 9801.
For further trades or queries,
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