NIFTY IT in the strong hand of bears.
Updated
When bank nifty was out performing nifty IT was exhibiting little bounce.
It is now declining impulsively.
please see the retracements that it exhibited during its down fall(1st retracement was 61.8percent where as 2 nd retracement was only 38.6 percent)
Posiible targets of this shown in the chart.
if such declines take place what will happen to IT stocks?
Please go through my recent posts of bank nifty.
most of them well at the target.
Please observe for the levels for nifty IT in coming days.
don't forget to like this post.
follow me to get updates.
It is now declining impulsively.
please see the retracements that it exhibited during its down fall(1st retracement was 61.8percent where as 2 nd retracement was only 38.6 percent)
Posiible targets of this shown in the chart.
if such declines take place what will happen to IT stocks?
Please go through my recent posts of bank nifty.
most of them well at the target.
Please observe for the levels for nifty IT in coming days.
don't forget to like this post.
follow me to get updates.
Note
Note
weekly chart black retracement levels are of whole bull run of NIFTY IT.where as red lines denoting the retracements during its down fall.
observing the black lines it can be clearly seen NIFTY IT has not retraced even 50
percent of its bull run.This time it can touch that level.
Note
On weekly it is forming bearish engulfing pattern.
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