As mentioned in a previous idea on Nifty IT, the index appears to have topped out around 14300 levels and is slowly moving towards 13450.
I think many IT stocks like TCS
TCS
have also formed an intermediary top, looking at the large Bearish Candle and classic Evening Star reversal pattern that it formed today.
Good opportunity to go short at these levels with a small stop loss for a first target of 1807.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
I think many IT stocks like TCS
TCS
have also formed an intermediary top, looking at the large Bearish Candle and classic Evening Star reversal pattern that it formed today. Good opportunity to go short at these levels with a small stop loss for a first target of 1807.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.