Nifty Futures analysis for 26-09-2017

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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.

Nifty Future 60 min chart


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.


Nifty Future intraday chart


For further trades or queries,
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The author(s), or a member of their household, of this report, does not hold a financial interest in the securities of this company. The author(s) has followed “blackout periods” that prohibit analysts from trading securities of the companies they follow for 30 days before and 5 days after they issue a research report about the company, and prohibits analysts from trading against their most recent recommendations—subject to exceptions for unanticipated significant changes in the personal financial circumstances of the beneficial owner of a research analyst account. The author(s), or a member of their household, does not serve as an officer, director or advisory board member of the subject company. The author(s) does not act as a market maker/promoter/beneficiary in the subject company’s securities. The information set forth herein has been obtained or derived from sources generally available to the public and believed by the author(s) to be reliable, but the author(s) does not make any representation or warranty, express or implied, as to its accuracy or completeness.



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