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.
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.
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+
Sorry for typing mistake - "zone" not "sun"
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.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ