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Projection

IT to loose some steam Sharing only for the purpose of learning. IT sector may lose some steams after this wonderful rally. Fibonacci Projection as shown reached the 1.414 levels in a single rally. Few stocks showing some retracement signs on charts. It can retrace or again start his journey again as few stocks still seem very strong on charts as below. - TCS - Mindtree - OFSS - TECHM. Stocks that can retrace can be as below. - COFORGE - LTI - MPHASIS - WIPRO. This is only for the learning purpose watchful for the monthly expiry and sept month for IT sector. As FMCG now can come forward in this situation to move market UP and smalls Hopes from bank nifty to keep market eventful for September series. Share your thoughts regarding this in a comment.
NSE:CNXIT
by Pro_Trader_GRV
NIFTY - Bearish - Correction WaveNifty index, has formed a bearish correction wave after the completion of the impulse wave that started at the end of the 2008 Crisis, pushing equities higher and higher. NIFTY looks to make lows at 9800 or even drift lower as time passes. With elections around the corner, it doesn't seem that impossible either. SO, keep your positions light and breezy in the market. Don't lever your positions, else, you might drift into losses. Shorting can be done on the basis of chart analysis at shorter timeframes like say, a 30 min or lesser.
NSE:NIFTYShort
by SchoolofMarkets