TMugembo

Avoid IT Stocks (CNXIT Chart)

Short
NSE:CNXIT   Nifty IT Index
NIFTY IT is on monthly trend line resistance. Please avoid holding IT stocks for upmove (Mid Term or Long term). IT looks exhausted and we may see correction coming soon. Also, to support above statement, INR will get stronger against USD in coming times and this will lead to IT companies share prices coming down.

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.