in bear grip. Has to cross the bearish level [Marked Red} Looks still weak.. Important levels are marked. Happy trading.. Follow for more updates. Share and Like with your trading colleagues.
The weekly chart of Nifty IT shows that it has come near the 50% retracement level. At the same time it shows a positive RSI divergence. This gives rise to chances of a short term upside. Though confirmation is required as per price action.
the index is at good level of support if it take support here with a good green healthy candle then further we can see a upward reversal thanking you HAPPY TRADING NSE:CNXIT
Position building: 1) - 25% @ 24.05 2) 25% @ 23.10 3) 50% - 21.5 Stop Loss - @19.90 Target: T1 - @29.55 T2 - @31.00 T3 - @34.00
daily chart indicates support around 1370 and 1320 good time to start buying with 50% now and accumulate at lower level also.
📊 Script: TECHM (TECH MAHINDRA LIMITED) 📊 Nifty50 Stock: YES 📊 Sectoral Index: NIFTY IT / NIFTY 500 📊 Sector: Information Technology 📊 Industry: Computers - Software & Consulting Daily timeframe Trendline + Descending Triangle Breakout. Weekly timeframe Trendline + Descending Triangle Breakout. Key highlights: 💡⚡ 📈 Script is trading at middle...
IT index and IT stocks was pulling nifty down & we are observing the downtrend since Jan 22 but looking like we are approaching to an end to it. A series of up move is expected in this Index. On an Hourly TF index is bullish above 28k, On a 4 Hr TF index is bullish above 28.5k On a daily TF index is bullish above 29k On a Daily TF index is bullish above...
Almost at the support waiting for it to be broken. The weakness is still continued in IT stocks so better to stay away. I'm looking at the targets of 28000 in coming months.
NSE:NIFTY WAITING FOR SOME PERFECT MOVEMENT IN NIFTY can see a last led up before a good whole fall again waiting for some sort of confirmation can even break the parallel channel as well
Techm - again giving insider bar breakout after 8 weeks of consolidation in mother bar, expect some very good momentum in it in coming days
Nifty IT made double bottom as mentioned in chart. Now it is near previous high. if it crossed the PH, then 2000 point rally can be seen. otherwise a fall from the red line marked on chart. So we can hold IT stocks if it crosses 30500 level.
MPHASIS looks good above 2300 for the target of 2425 with SL 2170. Gain 125 Swing trade.
INFOSYS chart indicating bull rally by forming INVERTED HEAD AND SHOULDER pattern. One thing to notice that trend reversed from its Fib retracement golden ration 0.618. Breakout with high volume needed above 1517-1520 to keep trend continue. TARGET 1677 SL 1405
WIPRO based on 15min chart pattern as per my post 25.07.2022 was in Make or Break on 26.07.2022. Today it has broken and heading to fill the gap @ 394. Below 401 then Target 394 Happy Trading to all...
Bears managed to drag the indices to expire below key psych levels. Banks and IT both seemed weak. What's your view?
The 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.
SUMMARY *inspite of rising dollar IT stocks are finding it tough *wipro has given an inverted flag breakdown *will wait for further action at the days end *already shared coforge short in the channel DISCLAIMER *my views are not trade recommendation *please consult your financial advisor *do not over trade *manage risk and manage risk appetite *for live market...
This sector has completed corrective waves as wave A-B-C and now possibly wave X has been started as a retracement, Once it closes above 20DMA (middle Bollinger band on daily chart), then it can show good strength and go towards north directions, up to 38.2% of whole recent fall as wave A-B-C. Some price actions and some indicators are suggesting reversals after...