CNX IT- Revist -Sell Setup below Rising Trend Line

Once Rising trendline gets broken decisively - likely it heads next swing low for support which comes in the zone 9765-9800 zone.

Once it takes support we will search for buying opportunity. In upside move 10590 & 10550 are the levels where bears have troubled or was a strong supply zone, so we will look for a move above 10600 in coming days as confirmation that CNX IT wants to head upside.

Previous Update- W = Y = Z equation solved

Trade active:

14:11 Hrs 19th Jan2017

Last Price@10185

A negative running candle for the day from 10250 to 10175.

Trade active:

13:20 Hrs 20th Jan2017

Day's Low@10142

2nd negative candlestick

Trade closed: target reached:

12:15 Hrs 31st Jan2017

Last Price@9758

Day's Low@9734

Kissed the target zone 9765-9800 -here there is support we will wait for the market to show us the way next & should not hurry.

Trade active:

18:00 Hrs 2nd Feb2017

Last Price@9926

After falling below rising trendline & kissing the target zone- some hope as it started rising back.

Trade active:

22:27 Hrs 3rd Feb2017

Last Price@10025

2nd Green Candle done for the day.