On monthly we see multiple bearish patterns in IT index.
Over long term we can see that this index takes support near 100 SMA on monthly.
Currently this index is in down trend and in worst case can see support nr 29000 levels. Which also coincides with earlier buying zone.
I would avoid IT till I find some good bottoming out pattern.
Over long term we can see that this index takes support near 100 SMA on monthly.
Currently this index is in down trend and in worst case can see support nr 29000 levels. Which also coincides with earlier buying zone.
I would avoid IT till I find some good bottoming out pattern.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.