CNX IT

CNX IT is moving between 12000 to 10700 . Now since it has reached 12000 there are chances that it will come down to support zone . It companies are expected to face selling pressure . Long position holders are advised to book profit . 

Bank Nifty

Bank Nifty is moving within a ascending channel . It has reached upper part of the channel and has formed inverted hammer which is a bearish sign . Correction is likely to happen .

Nifty is likely to correct in coming days lead by Banking sector . For trade initiation look for previous post . 

Nifty

Weekly chart of Nifty

In the last post it was written that Nifty will touch upper part of the channel and it has happened . 

What next ??

Nifty may face some resistance at current levels . If Nifty closes below 8700 then short , short , short for a target of 8600-8550-8500 and much below . Remember size of trade should be according to size of capital .

Nifty

In one of the previous posts it was mentioned that Nifty is likely to make a new high (http://karthik4bullsnbears.blogspot.in/2014/12/bounce-back-nifty-has-formed-hammer.html) and it did come true in todays trading session . Nifty is likely to continue the rally and it will reach upper part of the channel (marked in red color in chart ) which could be around 9000 . God bless all . 

ACC

ACC has breached trend line resistance and there are greater possibility that it will reach 1700 in medium term (6-12 months) . So watch out .

KPIT

KPIT Weekly chart

KPIT was trading between 145 - 190 for a  long period of time . But after breakout it has continued the uptrend . However now it is likely to face resistance around Rs.225 . Those who are holding KPIT should exit partially .