IT Index - On verge of Bull ride commencementIT Index h as formed Inverted Head and Shoulder and ADX>25.
supertrend (34,3) shows Buy.
Price above 200 DMA.
As soon as golden cross over occurs and bullish candle appears above the neck line the Bull Run starts.
Targets as per Fibonacci Retracement are marked
Brace up.
Idea for academic interes
Related indices
CNXITThe CNX IT index is currently forming an inverse Head & Shoulders pattern, a bullish reversal formation. The index made a bottom at 30918 on 7th April 2024, which aligns with a prior support zone tested on 4th June 2024, followed by a strong upward move. This double test of support indicates a solid
NIFTY ITHello & welcome to this analysis
NIFTY IT (CNXIT) appears to have completed in
Monthly from 2016 lows an impulse 5 waves up
Weekly shows a running flat wave 4 followed by sub waves of the terminal 5th wave
Daily indicates post the impulse an ABC corrective ended (ending)
is this A of abc down a
Textbook Price Action - Nifty iT
Hey fellow traders and chart enthusiasts, Here’s a fresh breakdown of the Nifty IT Index, which is currently at a make or break zone after a significant correction of almost 30%.
So we can see the index recently broke a strong demand zone 33400 to 32400 which I marked now as a resistance and this
#NIFTY IT Technical Analysis (Weekly Timeframe)🧠 Technical Analysis (Weekly Timeframe):
📌 Key Levels Marked:
Major Support (Black Line): ~₹30,951
Historical Support Zone (Blue Line): ~₹27,148
🔍 Price Action Insight:
Recent Pullback from Support (~₹31,000):
Price respected a historical support zone and gave a bullish reversal candle.
This zon
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Displays a symbol's price movements over previous years to identify recurring trends.