August 28, 2015
NIFTY (September Fut)
` 8270
` 8070 - 8090
` 7670
5-10 sessions
Recently, Nifty index had given breakdown from a consolidation zone of 8300 - 8600 and is forming ‘Lower
Top Lower Bottom’ formation.
The recent corrective action in the index is a sharp five wave corrective action which is usually seen in wave
iii or wave c.
As per our wave counts, prices have completed ‘wave (iii) of wave iii’ at the recent low of 7696 and the
current pullback rally is ‘wave (iv)’ which should resist in range of 8050 - 8100.
We are expecting resumption of the corrective trend and hence, we advise traders to sell Nifty September
Fut. from current level to a rise up to ` 8090 for a target of ` 7670 in coming 5 - 10 days. The stop loss for this
trade set up can be kept at ` 8270.
Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss Status
18-06-2015 Nifty June Fut.
SL Triggered
22-05-2015 Nifty June Fut.
Target Achieved
13-01-2015 Nifty Jan. Fut.
SL Triggered
23-12-2014 Nifty Jan. Fut.
SL Triggered
30-09-2014 Nifty Oct. Fut.
Target Achieved
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