lets see the chart of index now . among all the indices only nifty IT is bullish it has come out of channal patter . also if we see there is flag and pole pattern formation . we can expect a long rally of IT stocks . like previous pole of 28% again rally of 28% can come .
CNXIT has given BO on daily TF also it is able to sustain the supply zone look for infy techm hcltech wipro 37100 above it has to sustain
On verge of Bullish flag and pole formation after sideways movement from 2 months, MACD also signaling a shift in momentum.
Formation of head and shoulder pattern in hourly chart, volume is good and candle is also strong.
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TECHM (45TF):- 1544.5 CMP, looks good for more upsides keep track :)
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success. (Do talk to your financial advisor before making any investment decisions) please like, share and comment if you have any suggestion regarding this analysis.
- Made a gravestone doji at the top, may touch the steep trendline before making move up if the cureent trend is to continue - It has been moving continuously and silently
Game Over For IT Stocks ??? Bearish Engulfing On Daily Charts & Spinning Top On Weekly Chart. MACD Also Turned Negative. Profit Booking Might Take Place In IT Stocks. Be Cautious SL - 35600 (DCB)
Nifty IT, looks like it has completed wave 3rd of bigger degree wave 5th, now it could started steps towards wave 4 as corrective, as per sector views it stocks could show little bearishness as per index predictions. Wave structure Macd in daily time frame Negative crossover Rsi downtick in daily time frame trendline breakdown in hourly time frame adx dmi...
double dip in cnxit it is good technical condition
#NIFTYIT looks good for a decent up-move. SL can be placed below the horizontal line on closing basis.
TCS (D):- CMP 3217, LOOKS GOOD FOR 3400/3500++, Invalid BELOW 3150 1) RSI HIDDEN DIVERGENCE :) 2) Bullish Candlestick
Weekly Chart NSE: LGBBROSLTD Short Term Quick Profit CMP 353.20 Target : 394.95 SL : 327 Timeframe < 45 days Factors: Inverted Head & Shoulder Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT...