-One Simple Horizontal Line setup -Setting up well with volume, Signal Candle (more than 5% move with more than 1M vol) suggesting institution buying -Volumes kicking in -Tightness
-One simple horizontal line setup -Volume kicking in -Strong Sector -Iron n Steel (Metals) -Signal candle (white dot, when more than 5% move with more than 1M volumes) suggesting big players are buying
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...
-Strong sector with tailwinds -After strong move from base:152% in jjust 35 days, didnt fell much. -Consolidating with tight closes n low vol. -Strong Relative Strength -Growth Company: Sales up, OPM improved, EPS growth. Great Pick, Ready to blast.