AbhishekHSinghCMT

CNXIT-- W=Y=Z-- Is Equation Solved- Another clue for India Nifty

Long
NSE:CNXIT   NIFTY IT
7
Fond of Maths as a Mechanical Engineer- get excited when the equations were part of the problem as it really test your brains & you get pumped up when solved.
Here CNXIT gave us an equation since 2015 top@12908 which likely looks solved with W=Y=Z on the lows@9295.
Placed on the channel bottom-Z-wave seems done & has potential for crossing 12908- its 2015 top in coming months.

What will happen if CNXIT moves up- are you getting a clue for India Nifty- Ask these questions to yourself.

Trading Strategy
Look for a pullback between 9900-9950 on a short term basis for an upside move beyond 10200- once done, then look again for a pullback for taking longs.
Trade active: 11:00 Hrs 1st Dec2016

Last Price@10022

Likely to kiss the sun 9900-9950 - if sustained & holds that could be demand zone -so we will wait & watch & going above 10000 after making lows in the zone 9900-9950 or close by we will be interested in buying for targets above 10200+
Comment: 11:25 Hrs 1st Dec2016

Sorry for typing mistake - "zone" not "sun"
Trade active: 21:45 Hrs 3rd Dec2016

Last Price@9922

Done & Out -the fall as expected. Now we shall look if 9900 -9950 zone holds if it holds & starts moving upside that could be the clue for up move.
Trade active: 12:00 Hrs 10th Jan2017

Recent High@10590

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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