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CNXIT

Multiple Reversal patterns in Nifty IT !!!As visible on charts CNXIT has given a breakout from multiple reversal patterns which are Island Reversal, Double Bottom, Inverse Head & Shoulder. CNXIT has formed double bottom around 26450 along with RSI divergence and finally given its breakout at 28600. The index fell with a gap and also reversed with a gap hence, leaving behind an island and showing an island reversal pattern. Along, with above two patterns, inverse head & shoulder are also visible which further conforms to a reversal in the IT sector.
NSE:CNXITLong
by Chaser30
10
NIFTY IT SECTOR CNXIT WAVE STRUCTUREThis sector has completed corrective waves as wave A-B-C and now possibly wave X has been started as a retracement, Once it closes above 20DMA (middle Bollinger band on daily chart), then it can show good strength and go towards north directions, up to 38.2% of whole recent fall as wave A-B-C. Some price actions and some indicators are suggesting reversals after bearish fall, which are mentioned below. Hammer Sentiments, on merging last two candles on weekly chart price action is bullish piercing candle on weekly macd positive crossover on daily chart Stochastic positive on daily chart After oversold, now RSI is again above 40 levels on daily chart dmi adx positive on hourly chart dmi adx converging towards positive in daily chart Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:CNXITLong
by RK_Chaarts
2
WHERE IS NIFTY IT HEADED ?Nifty It has been showing no particular direction for the past week, sometimes on a solid green day it manages to fall and sometimes seeing Nasdaq it seems to gain some points but what is the real direction of this sector? I have taken the top 5 Nifty I.T stocks that have the most weightage in this sector and have analysed them. Below are all the top 5 constituents of cnxit. 1. INFY 2. TCS 3. HCLTECH 4. WIPRO 5. TECHM INFY I can spot LH LL formation in this and seems like it has had it's pullback and will continue to correct itself. TCS TCS has been following this support trendline for sometime and it can be taken into account that after double top tcs went for a pullback and again a low can be made near 3550 levels. HCLTECH HCLTECH is facing resistance from 1200 levels which is psychologically and technically a strong resistance level and now it seems like it's due a correction. WIPRO Took a bounce from the demand zone but is still below the 200 ma and flip level. TECHM Techm looks like that it is sitting on a crucial level and the next few candles can give us a sense of direction. Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding. Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times. These are just my views and I am not a SEBI registered analyst so consult your advisor before taking any trades.
NSE:CNXIT
by this_is_shoaib
1
Short Techm @1780The I.T sector move has been exhausted and now it seems to me that the scripts will be touching their retesting levels before gaining momentum again. Right now it's time for the finance sector to boom. The RSI is weak MACD below signal Line Volume profile shows targets can be further below. Sell Below 1780 (Wait for a small retracement) Targets mentioned in the chart above. Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding. Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
NSE:TECHMShort
by this_is_shoaib
Expecting a goodBreakout in CYIENT NSE:CYIENT from the IT rally CYIENT has taken some good corrections and now it is back to its previous demand zone . it is still taking rejections from the given trendline I expect a good breakout in coming days. CNXIT also looks good after breakout but not much bullish we can buy it after the breakout of both the trendline and the previous 15 days consolidation that is above 1015. for the given targets in the chart. NOTE - THIS TRADE IDEA IS ONLY FOR EDUCATIONAL PURPOSE WE ARE/WOULD NOT BE RESPONSILE FOR ANY PROFIT OR LOSS
NSE:CYIENTLong
by Arshad_Khatib
NIFTY AND BANK NIFTY LEVELS FOR 10TH NOVThis channel provides Nifty and Bank Nifty analysis and provides swing trades for equity. The channel is also a provider of technical knowledge on technical analysis. This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst. Please support the channel by liking, sharing and subscribing. Regards Maverick Trader #maverick #trader #mavericktrader #india #nse #bse #stock #markets #stockmarkets #trading #investment #nifty #banknifty #bank
NSE:CNXIT
by maverick_trader2002