If you see that red line top on Nifty IT thats the wick level high for Nifty IT.. Thats too much.. There is no mega movement, no mega contract, its profit booking time also so breaking that Red line ? Can happen but I see a little movement above that but it will come back for now. May be can run again during the results time.
Lets see but I see solid rejection from the Redline.
*This is just for educational purposes. I am a newbie trader. Please invest your hard earned money on advise of a registered stock market expert.