September 30, 2015
NIFTY (October Fut)
SELL
` 8075
` 7920 - 7950
` 7650
5 -10 sessions
Nifty has been forming ‘Lower Tops and Lower Bottom’ since last few months and thus is trading in a
corrective mode.
As per our wave counts, the index have completed ‘wave iv of wave C’ at the recent high of 8055 and the
index is currently trading in ‘wave v’.
The overlapping wave structure in last few days on intraday charts indicates that ‘wave v’ correction may
be in form of a diagonal and thus the correction can be a gradual down move and not a sharp correction.
Due to above technical evidences, we believe it is a ‘Sell on Rise’ market and hence, we advise traders to
sell Nifty October Fut. from current level to a rise up to 7950 for a target of 7650 in coming 5 - 10 days. The
stop loss for this trade set up can be kept at ` 8075.
7705
7650
7965
8055
Bearish
DAILY CHART (Nifty Spot)
Source: Falcon (Chart time - IST 09.30)
Date
Stocks
Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss Status
01-09-2015 CNXIT Sept Fut
BUY
11700-11670
-
12050
-
11480
SL Triggered
Booked Profit at
28-08-2015 Nifty Sept Fut
SELL
8070 - 8090
-
7670
-
8270
7790
18-06-2015 Nifty June Fut.
SELL
8145-8165
-
7980
-
8225
SL Triggered
22-05-2015 Nifty June Fut.
SELL
8500-8525
-
8300
-
8615
Target Achieved
13-01-2015 Nifty Jan. Fut.
SELL
8390-8410
-
8190
-
8500
SL Triggered
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