Nifty IT - 5th downwave in progress?

1. Nov. 2016

CNXIT has broken the low of 3rd downwave around 10000 (very important support level). Should bottom out at around 9400-9600.

2. Nov. 2016

Trade ist aktiv

CNXIT continuing the fall. Should bottom out and start moving up before Nifty. Large Value/Contrarian buyers should start buying at around 9400-9600.

3. Nov. 2016

Trade ist aktiv

CNXIT 9400-9600 levels are coinciding with Infy's 930-60 & TCS's 2100-2200 which are valuation (fundamentally) levels not seen in decades. I am sure large institutional are keenly watching and will start buying soon. Smart money will move in beaten down but strong sectors like IT & Pharma. Traders watch out for hammer or Doji on weekly charts for initiating long positions. Nice 2000-2500 point rally will take place in CNXIT once bottom is made.

9. Nov. 2016

Trade geschlossen: Ziel wurde erreicht

Target Achieved. As expected, CNXIT has made a low of 9327 and now trading at 9800. Now bottom is in place. It should consolidate between 9400-9600 and then bounce. It will take some weeks.

25. Nov. 2016

Anmerkung

in.tradingview.com/chart/W2BJ2Hdx/

25. Nov. 2016

Anmerkung

25. Nov. 2016

Trade ist aktiv

As expected, CNXIT has bottomed out around our target of 9400-9600. It made a low of 9300, made Doji last week, a sign of reversal of downtrend. Now all dips should be bought.

2. Dez. 2016

Trade ist aktiv

CNXIT went up from 9300 to 10200. Now should go lower and make higher bottom around 9550-9750 then move up and cross 10200.