Nifty IT Index Analysis!Nifty IT Index Break Long And Short Term Moving Averages And Possible Downtrending Channel Breakdown Below - 41,900. Avoid Long Positions.
Itindex
IT seems coming out of consolidatationMulti year chart. taken multiple times support. Is it time to come out from consolidation and entering new uptrend?
Coming 1-2 months will be decisive. Keep a closer watch on IT index and IT stocks
IT index possible uptrendIT index has been consolidating since 3 yrs. This time it seems like come out from this consolidation. Keep a closer watch
Nifty IT Index, Technical OutlookNow we have a strong breakdown of the compression zone.
The structure indicates the start of a downtrend.
The price could test the levels of 30,054 (Strong Support) which is 5-to-6% from the current level. On the up side the level of 35,188 will act as a strong resistance.
Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Nifty IT : What is the problem Now today is the time of the technology companay but indian IT index is not show any strength and not lead the market rali, This is not support and participate the rali the main reasion is the structure of the Nifty Index.
This index higher weightege stock not perform most in the correction phase hence this index is underperform the market.
IT index can move up 10% in coming 20-30 daysIT Index is in Uptrend after recent correction.
Can move up 10% in next 20-30 days.
#cnxit It sector updateIT sector has now bottom out now we can see reversal in it stocks but try to trade in large cap or few selected midcap stocks like- Infosys , Mindtree , TCS
this is only for educational purpose only -
Breakout after 6 yearsAbout the company
NIFTY IT index & other stocks from Mid-cap & large-cap has shown a tremendous performance, where OFSS being a strong financial company has underperformed. [i ]
Chart analysis
This is the monthly chart of OFSS, the stock is in the consolidation zone for years & now has given a breakout from its 2015 high with record volumes.
As per Fibonacci extension, the next target for the stock is near 6000 level, which is also similar to the range where the stock was consolidating.
How to trade
Fresh position can be initiated from the current level. As this is a monthly chart, a bigger stop loss should be considered & the time horizon should be month to year.
Target 1: 5200
Target 2: 6000
SL: Ideal SL should be closing below the recent polarity level.
NSE:OFSS
It Index 5th waveLooks like IT index 4th wave may have just ended.
Now big 5th wave can come..
Keep stop loss 30400
Target can be 24000 to 22500..
Risk reward is super.
cmp 29900
Nifty IT - Bullish HarmonicThe Bullish Harmonic pattern is in process of completion with PRZ at 26,650-26,800 zone.
The reversal from PRZ with take index above 28,000+ levels while the pattern negates on close below 26,390.
Bearish Corrective Trend in TCS Hi Traders
This is an good opportunity for both buyers and sellers. As price is corrective than sellers can short sell here for quick profit. Investors can wait for the correction as they will get the buy the stocks as much cheaper price.
Anyway as i said in the chart this is an corrective structure. Form the looks like it is an flat structure so its should fall to given price range and expect a bounce from that area.
Anyway in present scnerio look for sell side as this correction is surely going to take some weeks to finish it. See weekly chart for more clear understanding of degree.
Please do follow our charts with likes and comments. Let me know if you have anymore query
Thank You Everyone
* This is an weekly chart of TCS, in this you will sell an line near price 3000 which will work as a support for wave of D-4, It should not breach this level if it want to go up for wave D-5
* To learn how to read our neowave charts see below image
IT sector is bullish the it index is bullish by patterns and indicators so invest as per your risk appetite and follow the lvl
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Retest Complete - TCS Here Comes a new idea and this time Its a well known large cap... TCS.
Refer All the notings in the chart.
Very Small SL of 3400.
Target Shall be New ATH, but it demands sheer patience.
Please Do Like & Comment.
nifty it index READY TO SHOOTNIFTY IT INDEX IS NOW READY TO SHOOT ....COMPLETED CORRECTION ON 3 HOUR TIME FRAME AND ALSO 4 HOUR TIME FRAME.... INFOSYS , HCL TECH EXPECTED TO LEAD THE RALLY
NICE BREAKOUT AND SUSTAININGA nice breakout occurred here in #tataelexsi with strong RSI. stop loss could be 1230. To be bot above 1320. above means above 1320 . my view only may be 100% wrong
TCSTCS:- supper bullish upward channel follow buy zone 2100/2300 for target 2600₹ with sl 2180 clbs
#Disclaimer:-I just shared view for only educational purpose.
TCS divergence working outVolume divergence has been unfolding for last 2 weeks and it finally broke down below trendline with good volumes. it is below 200 SMA and all major indicators are showing divergence.
