27 SEPTEMBER 2017

NIFTY CHART OF THE DAY

NIFTY COMMENTARY
SHORT TERM UPDATE: A RENEWED DOWNSIDE TOWARDS 9685
The short term trend in Nifty has turned down to negative and all indicators are set in for a new and renewed downside
price movements. This new leg down in Nifty should take us down below 9685. Once complete prices in Nifty could
consolidate further moving one sided. So we are anticipating few weeks of consolidation post expiry. A visible H&S is in
formation in Nifty chart wherein we have just completed the head and in the process of forming a neckline. A second
shoulder could come in probably by the third week of October. As of now all eyes on 9685 on closing basis.

MEDIUM TERM UPDATE: IT COULD BE A SHORT LIVED UPSIDE

Although we anticipate that Nifty could scale up new highs very soon, we also believe it could be short lived and the
reversal will come in post sept. 21st and hence not initiating a new position until then. We will be on wait and watch mode.
This leg of fall will resemble "as if there is no tomorrow". This leg of fall / correction will be swift, steeper and sharp. We
could test 9000 mark any day in the month of September and the recovery would be much faster. i.e. if September tests
9000 lows, by October we would back above 10,000 mark. Be ready for a roller coaster ride ahead...

Nifty did close above our SL at 10,000. As per our model,

it's time to take the losses. No new positions are advised
at this moment. We are initiating a new Sell for the day.
The current SL stands at 10000 on closing basis.

Scrip Signal Date of Signal Signal Entry C.M.P. Current

Position
Nifty (Spot) BUY 05-01-2017 8274 9605 +1331
Nifty (Spot) BOOK PROFIT 30-05-2017 9605 9605 +1331
Nifty (Spot) BUY 28-06-2017 9491 10081 +590
Nifty (Spot) BOOK PROFIT 02-08-2017 9491 10081 +590
Nifty (Spot) SELL 10-08-2017 9820 10006 -186
Nifty (Spot) BOOK LOSS 12-09-2017 9820 10006 -186
Nifty (Spot) SELL 25-09-2017 9873 9873 0