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CNXIT what Next ?

Nifty IT Index (NSE:CNXIT)  
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NSE:CNXIT   Nifty IT Index
Trend Analysis
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trendanalysis
CNXIT 35005 -Will it turned out to be a failed W pattern ? It has dropped below its Neck line which is considered to be failed pattern.
As it is holding on support a break below 34515 will confirm bearishness.
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