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IT to loose some steam

NSE:CNXIT   NIFTY IT
Sharing only for the purpose of learning.

IT sector may lose some steams after this wonderful rally.
Fibonacci Projection as shown reached the 1.414 levels in a single rally.
Few stocks showing some retracement signs on charts.

It can retrace or again start his journey again as few stocks still seem very strong on charts as below.
- TCS - Mindtree - OFSS - TECHM .

Stocks that can retrace can be as below.
- COFORGE - LTI - MPHASIS - WIPRO .

This is only for the learning purpose watchful for the monthly expiry and sept month for IT sector. As FMCG now can come forward in this situation to move market UP and smalls Hopes from bank nifty to keep market eventful for September series.


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