Happiest Minds Technologies, THE MID CAP IT GIANT which a leading digital transformation technology provider is finally out from the trade to trade segment, the stock has seen a reasonable correction from its highs with improving fundamentals.the volumes are squeezed shows the TTM SQUEEZE ,the stock has formed a triple bottom like structure which is a bullish...
After a 3 wave correction the nasdaq composite managed to move up in what even I thought maybe 3 corrective. But maybe it is a leading diagonal and that changes everything. We have extensions long term and a new impulse wave up in wave 3 of 3 started for the Nasdaq. Then it changes the entire perspective for stocks. Bullish gaps as of now typical with 3rd waves
BUY signal at 75.27 $
Skyworks Solutions Inc. designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company's analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home,...
Applied Fibonacci levels to IT index.
Index seems to be closing above it short term resistance oh 16086 level. A strong breakout above previous highs of 16130 will be a buying opportunity in Tech stocks like Techm Infy TCS Wipro Mindtree which have been strong.
Weaker rupee may be a trigger. But one should wait for a breakout and not hurry since they have rallied...
It has been observed on NIFTY IT CNXIT weekly chart that a rising trend line has been acting as good support and resistance on several occasions.
PS: Request you to use this trend line setup as a supplement to your analysis before taking any position.