Nifty IT Weekly analysis of the Nifty IT Index, showing a Cup and Handle pattern
Key Insights:
Cup and Handle Pattern:
The pattern began forming around mid-2022 and completed by 2023.
The breakout from the handle occurred around 38,539.00, which is a critical support level now.
Measured Move and Target:
The chart projects a potential upside target near...
Date: 23rd July 2024
Time: 7:20PM
Why Quess Corp?
1. Fundamentally Good Company with decent P/E Ratio.
2. Since Quess Corp listed it, movement is sideways within specific range if we check bird view of it.
3. According to Dow Theory, it was making LH LL (Downtrend) but very first time in 2023 it made Higher Low and moving continuously upside...
Nifty It NSE:CNXIT
The IT index has been in a consolidation phase for an extended duration and developed a Cup & Handle pattern.
After breaking out, the index has effectively retested the breakout level and is now on an upward trajectory.
In the past week, the index gained approximately 3% and is showing robust strength, with expectations for further upward...
Good morning, friends! 🌞 Here are the market directions and levels for September 11th.
Market Overview:
Global markets are maintaining a moderately bearish trend, as indicated by the Dow Jones, while our local market has a moderately bullish sentiment. However, today, the market may open neutral to slightly gap-down, as SGX Nifty is indicating a negative move of...
Date:19th July 2024
Time: 9:49 AM
Why CYBERTECH SYS?
1. Stock has favorable P/E Ratio ~27. and sustaining good levels.
2. In Daily TF, Cup & Handle is clearly visible with strong breakout today in smaller TFs.
3. NIFTY IT is also in good momentum and this one is from IT industry too.
Target will be- 327~ Rs
Further update later as it moves
After a long falling wedge, there will be an attempt to form a base. Today's candle could mark the beginning of the base formation if it can sustain this breakout.
It will be a sideways contender for a while but this is where accumulation would begin. Momentum will come eventually.
Symbol - BSOFT
BSOFT is currently trading at 565
I'm seeing a trading opportunity on buy side.
Buying BSOFT Futures at 565
Holding with SL of 545
Targets I'm expecting are 590 - 618 - 650
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
INFOSYS WEEKLY CHART
Indicating a strong Break out from its current supply level; any closing in weekly can give a confirmation for stock may provide potential returns future.
CMP:- 1945
SL:- 1815(closing basis)
Price expectations :- 2,100 // 2,250 // 2425
Returns estimated :- 25% to 27.5%
#banknifty #nifty50 #markettrend #option
Important points are marked.
Bank nifty on Bearish side.
All targets achieved
****Video is for education purpose***
****Investing in stock market is subject to market risk do own research before investing****
Important points marked.
*********Investing in equity is subjected to market risk do own research before investing********
**********Details mentioned here are for Education purpose only*********
A sectoral analysis after quite long time.
I had previously covered Nifty Pharma & Nifty Energy which have outperformed Nifty.
However, Nifty IT has largely underperformed in the last 2 years as compared to broader indices mostly because of recession in western countries.
The sector is in consolidation since last 3 years and all the investors of large cap IT...
Date : 6th June 2024
Time : 10.27 AM
Why I am Bullish on Wipro ?
1. Wipro has Formed Cup & Handle Chart Pattern on Monthly TF and successfully retested on neckline too as we can see on Chart.
2. Current Fibonacci level is 0.5 to 0.618 known as Golden Reversal Zone.
3. Nifty IT is Also Showing Bullish Trait like Bullish Divergence.
After all this Entry ...
BIRLASOFT (1W TF) - Swing Trade Analysis given on 13th July, 2024
Pattern: REVERSAL FROM WEEKLY SUPPORT
- 5 Weeks Consolidation at Weekly Support Zone - Done ✓
- Strong IT Sector Weekly Breakout - Done ✓
- Accumulation with Volume Buildup at Support Zone - Done ✓
- Demand Zone Consolidation & Retest - In Progress
* Disclaimer
As I had mentioned in my NiftyIT analysis, Sonata software is showing good reversal signs.
Today, stock gave a breakout of trendline after bouncing from support.
It is going to fill gap till 630 tomorrow which can be a good trade any intraday traders.
Swing traders shouldn't miss opportunity of adding this multibagger stock in watchlist.
Good stock for long term...
Wipro had a strong resistance of 450 which broke and is now acting as a support.
Since Nifty IT is looking bullish, we can expect a reversal in this stock.
An amazing investment stock available at a very good price.
Multi 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
