CNXIT - Has the Up -Up & Away Started@9500-9600 Zone

Feb 12, 2017

Total gain was 1200-1300 points from last session

The move from 9295 to 10590 looks like an initial impulsive upside push has completed & later move from 10590 (Critical Level) -it was some complex structure which could have completed the corrective sequence at recent lows@9592 or part of the correction which will be confirmed once it starts moving above 10590.

Trading Strategy
Once it starts moving above 10590 -that will be our initial clue to take long position & later on should cross the falling channel & finally sustain above the channel for an explosive move upside. Moving above 10750-10800 zone likely it travels 161.8% of the initial push from 9295 to 10590 which comes in the zone 11700-11800 as the target zone.

or if it fails to cross 10550 & sustains below 10400 for a day or 2 then likely this correction becomes a time consuming affair & shall possibly dip again.

Review of the last scenario
Bang On for the move - sell setup gave 500-600 points move downside & waiting for markets to show us the way next - which indeed jumped from 9590 lows & travelled close to swing highs 10550(Key Level)
[/B] - almost 700 points more on the upside.

You would love to read my previous updates

CNXIT - W=Y=Z is the Equation Solved- Another Clue for India Nifty

CNX IT - Revist - Sell Setup below Rising Trend Line

Feb 21, 2017

Trade active

09:40 Hrs 21st Feb2017

Last Price@10760

Very Strong - Channel Crossed & moving as expected above 10590 -Wow!

Mar 4, 2017

Trade active

22:30 Hrs 4th March2017

Last Price@10806

Price has crossed the channel, but doing very suspicious just above the same, so bulls have to be careful here for coming sessions.

Apr 9, 2017

Trade closed manually

20:00 Hrs 9th April2017

Suspicious - Suspicious & Suspicious . Falls from 10800's to 10500