S.no Sector Remarks
1 Nifty Closed at 18105 up by 300points, last week’s low of 17780 was breached by only 5 points and then market reversed. All the sector’s participated in reversal except pharma. Weekly & monthly Tf is still not bullish but daily TF is showing signs of reversal. Now this index should not close below 18000 else next leg of downward rally will be...
Key highlights: 💡⚡
On basis of Weekly Time Frame
📊 Currently NIFTYIT has given Double Bottom Breakout with confirmation.
📊 Keep an eye on IT sector's scripts.
📊 Example : LTTS , COFORGE , TECHM
1st Target - 32816
2nd Target - 34381
Support - 30559
⚠️ Important: Always maintain your Risk & Reward Ratio.
⚠️ Purely technical based pick.
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Nifty information looking good finally on daily chart by breaking a horizontal trendline resistance and looking bullish in setup for coming sessions MACD indicator divergence giving positive divergence signals too on daily chart, That is why I am looking fresh long opportunity in this oversold index stocks..
Cause of Long
1- Horizontal resistance trendline...
Tech Mahindra breakout or breakdown level
Tech Mahindra is an Indian multinational information technology services and consulting company. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai. Tech Mahindra is a US$6.0 billion company with over 158,000 employees across 90 countries.
MINDTREE breaking some resistance points on daily time frame, Risky entry started after candle closing today safe entry will start at given level i.e 3600.
Trade according to your setup.
What a spirited performance by NSE:BANKNIFTY today! Mega gap up opening at 42163 breaking the all time highs and a perfectly strong buy day today. The attempt to close the gap was short-lived when BN took support at 41929 (The swing high of the last few sessions).
This was quite expected after the mega US rally yesterday, SP:SPX up 5.5%, NASDAQ:NDX up...
HCL TECHNOLOGIES has beautifully taken a support at 0.5 Retracement level and its 200 Weekly Exponential Moving Average.
If we try to see the importance of 200 Weekly Exponential Moving Average for HCL TECH, then you can observe it has been rarely been broken by HCL TECH(Year 2008 & 2020 shown in the chart). Rest of the time when market is not in a panic mode HCL...
As predicted last time for IT index to sell at 33850, which was followed by 20% correction in the Index and saved capital there.
Now looking at the market scenario, IT stocks looking one of the best bets in the Indian sector
1) Golden pocket zone of 2020 bull run
2) Bounced from the long awaited channel trendline
3) Taking support at previous support zone of...
Nifty IT Views:
Almost 30% correction from TOP of 39k.
IT sector has long term benefits due to digitization drive taken across globe.
Views: Long Position.
Currently taking multiple support at around 26K, this is previous year consolidation area
Current consolidation range between 26k to 30k.
+ve divergence in RSI.
To estimate down side,...
in bear grip.
Has to cross the bearish level [Marked Red}
Looks still weak..
Important levels are marked.
Happy trading..
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Key highlights: 💡⚡
📊 Currently NIFTYIT may take support of level 28663 which was previously working as resistance.
📊 If it is breaking support level one can go for SHORT into IT sector.
📊 Example : MPHASIS & COFORGE for SHORT.
IF SUPPORT LEVEL IS BREAK THEN ONLY GO FOR SHORT TRADE.
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to...
Watch IT Sectors Stocks like: TCS, Infosys, Wipro, HCL Tech, Tech Mahindra Etc.
Inverse Head and Shoulders
The inverse head and shoulders chart is thought to predict a bearish-to-bullish trend reversal and signals that a downward trend is nearing its end. Investors consider it to be among the most reliable trend reversal patterns.
a beautiful trade u can take. if u r a long term investor now is the time to enter as there are some institutions who have entered u can see the volumes.
![CNXIT: CNX - IT [Nifty IT]](https://s3.tradingview.com/o/OHd9IthH_mid.png "CNX - IT [Nifty IT]")
