Nifty IT - Best trade of the month.

Feb 16, 2017

We gave a buy call when Nifty IT was at 9950-80 (Link below) and Infy at 920-30. Buyback news was expected and technicals played out well. It rose to the expected resistance zone of 10550-750. All profits booked. More than 600 points booked in only 6-7 trading sessions. We are holding Infy for 1050.

Cheers

Feb 17, 2017

Trade closed: target reached

Feb 17, 2017

Note

Nifty IT reached almost 10700 and sold off sharply from there. Now, it should consolidate in the range of around 10300-700 for a breakout above the monthly falling channel.