CNXIT Levels // 25 Min

Aug 29

Hello Everyone 👋

Current Market Overview
Current Level: 41,089.85
Market Sentiment: The IT sector has been showing mixed signals with some volatility due to global economic factors and earnings reports.

Support Levels
40,800: This is the first major support level. If the index falls below this, it could indicate a bearish trend.
40,500: A stronger support level. Breaching this could lead to a significant downward movement.

Resistance Levels
41,300: The first resistance level. Breaking above this could signal a bullish trend.
41,600: A stronger resistance level. Surpassing this could lead to a sustained upward movement.
Indicators to Watch
Moving Averages: Keep an eye on the 50-day and 200-day moving averages for trend confirmation.
Relative Strength Index (RSI): An RSI above 70 indicates overbought conditions, while below 30 indicates oversold conditions.
MACD (Moving Average Convergence Divergence): Look for crossovers to identify potential buy or sell signals.
Recent News and Events
Earnings Reports: Recent earnings reports from major IT companies can impact the index.
Global Economic Factors: Changes in global economic policies, especially in the US and Europe, can influence the IT sector.
Trading Strategy Tips