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Niftyit

CNX NIFTY ITNifty 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 conversion towards negative in daily time frame adx dmi negative in hourly time frame rsi down tick in hourly time frame macd in hourly negative along with down tick and now below zero line Disclaimer I am not sebi registered analyst. My studies are for educational purpose only. Consult your financial advisor before trading or investing.
NSE:CNXITShort
by RK_Chaarts
NIFTY IT - IS IT SHOWING SIGNS OF TOPPING OUT?Seeing the chart of NSE:CNXIT it's very evident that the MID BAND of the PARALLEL CHANNEL is acting in form of SR FLIP TRENDLINE i.e. the trendline which was acting as SUPPORT is now acting as RESISTANCE Few Tips to use PARALLEL CHANNEL a. Always make use of LOG SCALE whenever you are making use of PARALLEL CHANNEL for putting in a LONG TERM PICTURE into perspective b. Check the reaction around the MID BAND it helps in developing trades in or around that level c. Within the PARALLEL CHANNEL you will see a few more TRENDLINES which will act as SR FLIP TRENDLINE so plot them for getting more inference about PRICE ACTION Check the INTERNAL TRENDLINES drawn to get better understanding about where NSE:CNXIT is standing at this juncture
NSE:CNXITShort
by Siddharth2410
1
TCS - Retest on charts, maybe !While Friday was really amazing, Nifty IT seems to touch it Max Limit trend line resistance. May be its imaginary and may be Nifty IT makes a new high and a new resistance but seems movement will come in other sectors after Nifty IT gets rejected at the red line. Please see my Nifty IT analysis which I just posted on trading view - apparently, I cannot post link here (SAD) So TCS made a fantastic move and what a classic chart pattern BO. It’s just when things are so obvious that too a weekend to give everyone time to think, smart money will do something smart. One reason to go bullish is further lockdowns across the globe and focus back to IT and WFM but all that is factored in. If the BO sustains, we are looking at quick 4000 + targets. I am not too convinced. I will focus on other sectors, Banks nahi chale hain bahut time se, may be banks ... who knows! *I am a newbie trader, this is for pure educational purpose analysis, please trade your hard-earned money on a registered stock market opinion :)
NSE:TCS
by DoublebassmaniawithPranav