Dead Cat Bounce / Relief Rally..!? Nifty Outlook 8th to 12th Oct

Oct 8, 2018

Last week we witnessed some intense selling. Nifty Lost close to 800 points in just 3 trading sessions. Now what next...!? Normally after such intense selling there is a pullback or a dead cat bounce. Also some key factors in the coming week which can trigger a pullback can be Cool off in Crude Prices, USD INR and Improved Q2 earnings from heavyweights like TCS, HUL etc.

Coming to technicals, 10100-10180/200 is a demand zone (blue shaded region). Also 10200 is a support as per OI Data. Expect some pullback if these support levels/demand zone holds. Resistance Levels or Targets for Pullback are mentioned below(also marked on chart with yellow lines):-
*10400-420
*10540-560 (strong resistance)
*10600
*10750-60 (major resistance)

There can be a very short term uptrend so I wont advice anyone to add positional longs.

Note: Trading pullbacks in a falling market is risky. Market trend is Sell on Rise. Ideally shorts should be added at every resistance level.

Oct 8, 2018

Trade active

First Pullback Target of 10400 Done

Nifty Bounced 200 points after making a low of 10200 in the opening first hour. 👍🏻

Above 10420...we can see 10500-550

Oct 12, 2018

Trade active

Next Target of 10500 almost done... Nifty made a high of 10493.

Bears need to break 10200 on closing basis to gain strength back and see lower levels of 9950.