According to technical indicators and candlestick analysis looks like the Indian I.T sector share gets overstretched and correction is possible. Also, RSI is in the overbought zone (80), and also in day frame analysis, it has formed a "Shooting Star" pattern (Trend reversal pattern).
Here, by Nifty I.T analysis I am referring to I.T stocks
Eg: NSE:TECHM , ...
THE TITLE PROVES THAT THE STOCK SHOULD BE IN WATCH. AS YOU KNOW THE LAST WEEK SHOWED THAT THE TWO MAIN LAGGARDS WERE PHARMA AND IT. SO THE IT STOCKS SHOULD BE ON THE RADAR.
Beware : Please keep in mind and stay away from False Breakout Traps.
Also this is not any recommendation, it is only for educational purpose.
Trade at your own risk.
Thank you
Have a Nice day!!
infy i see the stock shown underperformance as compared other stocks and added to it not shown much to help index in the recent upmove
now as index is 1000++ point up in 4 /5 days
a pullback cnt be denied
thus the responsibility to hold comes on shoulder of non perforforming counters
2. TCS moving within a channel since 2nd week of march.
3. It broke a sub channel and 20 ema on 1st of April but found support at lower boundary of bollinger bands.
4. TCS now trading above 20 EMA and since bollinger bands are contracting a brekout is eminent in few trading session.
5. For coming week 1700 will act as strong support. go long above 1800, short below 1700.
ghstocktrading.webnode.com
NIFTY IT: WEEK-TECH-SHEET->05th August 2019 to 09th August 2019
NIFTY IT moves around +632.85 pips from 05th August 2019 to 09th August 2019, in which nifty IT break last week 29th July 2019 to 02nd August 2019 top 15649.15.
ghstocktrading.webnode.com
NIFTY IT: WEEK-TECH-SHEET->22nd July 2019 to 26th July 2019
NIFTY IT moves around +380.35 pips from 22nd July 2019 to 26th July 2019, in which nifty IT break last week 15th July 2019 to 19th July 2019 bottom 15363.05.
NIFTY IT: Breaks March Bottom: 15202.05
"Only" If NSE:WIPRO opens above 371, sell it with a SL of 375.6 and targets of T1 - 368.5, T2- 365.2 else do not take a trade.
Disclaimer :
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully...
Prices have formed Rectangle Pattern and traded below it decisively. One can trade the reversal pattern by initiating the short trade for the target of 322.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
As IT sector, already had it's much-awaited bull run this year. If already invested in NSE:INFY , then with the Q2 2018 results you can exit or short at around 720 levels for a target of 590 odd levels.
Must start accumulating it from around 590 levels and buy on every dip from there.
Note: Also it formed a Bearish Engulfing on a monthly time frame
Based on my "xMRSI-Progresser" predictive trading methodologies, its going to be a RED candle on 26-Sep-2018 for WIPRO
Sell Below(5Min candle close): 327.5 for targets -
T1: 325
T2: 323.6
T3: 322
SL: 330.1
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please...
MINDTREE is a BUY on NSE around 1086 with SL of 1046 and Target of 1170. If it comes down tomorrow and takes support around 1090 then get in the stock.
