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🔍 More Analysis &...
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...
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->07thDecember to 11thDecember2020
NIFTY IT moves around +630.75 pips from 07thDecember to 11thDecember2020, in which nifty IT break last week 30thNovember2020 to 04thDecember2020 top 22458.80.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->30thNovember2020 to 04thDecember2020
NIFTY IT moves around +644.40 pips from 30thNovember2020 to 04thDecember2020, in which nifty IT break last week 23rdNovember2020 to 27thNovember2020 top 22281.85.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->23rdNovember2020 to 27thNovember2020
NIFTY IT moves around +849.20 pips from 23rdNovember2020 to 27thNovember2020, in which nifty IT break last week 16thNovember2020 to 20thNovember2020 top 21706.20.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->16thNovember2020 to 20thNovember2020
NIFTY IT moves around -635.95 pips from 16thNovember2020 to 20thNovember2020, in which nifty IT did not break last week 09thNovember2020 to 13thNovember2020 top nor bottom.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->09thNovember2020 to 13thNovember2020
NIFTY IT moves around -1064.20 pips from 09thNovember2020 to 13thNovember2020, in which nifty IT break last week 02ndNovember2020 to 06thNovember2020 top 21596.00.
Nifty IT index is testing a support trendline that it has tested before (But managed to take support).
But how will it react this time?
Keep this on your radar. Big shots like TCS and Infy are breaking down by big numbers.
Please like and follow. NSE:CNXIT
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->02ndNovember2020 to 06thNovember2020
NIFTY IT moves around +926.65 pips from 02ndNovember2020 to 06thNovember2020, in which nifty IT break last week 26thOctober2020 to 30thOctober2020 top 21595.80.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->19thOctober2020 to 23rdOctober2020
NIFTY IT moves around -601.85 pips from 19thOctober2020 to 23rdOctober2020, in which nifty IT did not break last week 12thOctober2020 to 16thOctober2020 top nor bottom.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->12thOctober2020 to 16thOctober2020
NIFTY IT moves around -1371.45 pips from 12thOctober2020 to 16thOctober2020, in which nifty IT break last week 05thOctober2020 to 09thOctober2020 top 22169.30.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->05thOctober2020 to 09thOctober2020
NIFTY IT moves around +1827.85 pips from 05thOctober2020 to 09thOctober2020, in which nifty IT break last week 28thSeptember2020 to 02ndOctober2020 top 20196.05.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->28thSeptember2020 to 02ndOctober2020
NIFTY IT moves around +732.40 pips from 28thSeptember2020 to 02ndOctober2020, in which nifty IT did not break last week 21stSeptember2020 to 25thSeptember2020 top nor bottom.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->21stSeptember2020 to 25thSeptember2020
NIFTY IT moves around -1416.90 pips from 21stSeptember2020 to 25thSeptember2020, in which nifty IT break last week 14thSeptember2020 to 18thSeptember2020 top 20067.70.
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->14thSeptember2020 to 18thSeptember2020
NIFTY IT moves around +1268.15 pips from 14thSeptember2020 to 18thSeptember2020, in which nifty IT break last week 07thSeptember2020 to 11thSeptember2020 top 18740.85.
NIFTY IT is on monthly trend line resistance. Please avoid holding IT stocks for upmove (Mid Term or Long term). IT looks exhausted and we may see correction coming soon. Also, to support above statement, INR will get stronger against USD in coming times and this will lead to IT companies share prices coming down.
