NIFTYIT/NIFTY ratio chart has been trading in a range for the last 9 months since Sep'20, as shown in the rectangle pattern. The chart is breaching the top trend line of the pattern with momentum.
RSI, the momentum indicator, never reached oversold conditions at the two times the ratio touched the bottom of the rectangle, indicating strength. The RSI is also well...
Query : How much capital is needed to trade? This is one of the most frequently asked query from new traders.
I have seen people who have the opinion, “50 Lakh or one crore capital make trading safe & secure”, “only people who have capital more than 50 Lakh only earn money from trading” etc.
Its true that without capital we cannot start any business. Its also true...
Index made a new high whereas RSI didn't which indicates negative divergence.
It will have to sustain around 29100 and 29280 (0.5 and 0.382 level on fib retracement) before it continues the uptrend
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
IT Index Trending and all IT stocks are performing and trending with great momentum but need for caution need is that there momentum divergence exit
on the chat which would mean that price is moving up but momentum is dropping
I am not good with chart presentation and with another fancy indicator. I will make it simple and clear there is a clear breakout in the Nifty IT index. INFOSYS is leading the way and it gonna outperform other IT stocks and today it is at a lifetime high of 1501.
This is Post 5 out of 7 in an exploration of an investment strategy known as top-down investing.
This comparative chart showcases the relative strength of all of the companies that the NIFTY IT Index comprises as of 15th June 2021.
Here, I am looking to identify the companies/stocks that are outperforming/leading the index.
CNX IT 28217 - Still bullish. Following our last week posting we find CNX IT indicators are still bullish. So we expect a target of 28418 in short term and 28895 in Medium term.
VIEW WILL GET NEGATE IF CNXIT CLOSES BELOW 27954.