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

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.

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

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.