Investing:Nifty IT is looking good for long term accumulation!
If you have been following the tech related news lately, it has been about the new AI "revolutionary" tool named Anthropic.
And the same is visible on charts of Nifty IT.
TCS is available at a price at which it was trading in December 2020.
Infy has just broke a crucial support.
Wipro has always been the weakest of 3.
So what next?
My opinion is that the fall is now almost in the end stage. The accumulation has already started on Friday as we have seen some good recovery by end of the day.
However, A SL hunting move near 32-34 zone might come as a formation of a lower low with RSI divergence in Nifty ITBEES which is where one needs to be careful.
We might also see some rebalancing & restructuring in IT index soon. However, these large companies are operating since past many decades and are here to stay at least for a few more.
These are the kind of dips which should be mouth watering for long term investors as the valuations are now dirty cheap.
The levels which i mentioned are my personal opinion shared for educational purposes and should not be considered as a recommendation.
And the same is visible on charts of Nifty IT.
TCS is available at a price at which it was trading in December 2020.
Infy has just broke a crucial support.
Wipro has always been the weakest of 3.
So what next?
My opinion is that the fall is now almost in the end stage. The accumulation has already started on Friday as we have seen some good recovery by end of the day.
However, A SL hunting move near 32-34 zone might come as a formation of a lower low with RSI divergence in Nifty ITBEES which is where one needs to be careful.
We might also see some rebalancing & restructuring in IT index soon. However, these large companies are operating since past many decades and are here to stay at least for a few more.
These are the kind of dips which should be mouth watering for long term investors as the valuations are now dirty cheap.
The levels which i mentioned are my personal opinion shared for educational purposes and should not be considered as a recommendation.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.