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CNXIT trade ideas

The Outperformer's Guide: Top Stocks from Each SectorThis analysis highlights key sectors and stocks to watch. 1. Nifty IT NSE:CNXIT ● The Nifty IT sector has demonstrated resilience during the recent negative market sentiments. ● Notably, it has formed a Descending Broadening Wedge pattern and expected to breakout soon. ➖ Stock to Watch - Coforge NSE:COFORGE ● The stock is currently trading just below its all-time high with a strong uptrend. ● Investors can consider accumulating shares on any dips. 2. Nifty Finance NSE:CNXFINANCE ● The Nifty Finance sector has recently breached its trendline support and is now approaching its next key support level, ranging from 22,500 to 22,700. ➖ Stock to Watch - Axis Bank NSE:AXISBANK ● The stock is currently trading at its support level, offering a potential short to mid-term trading opportunity. 3. Nifty PSU Bank NSE:CNXPSUBANK ● The Nifty PSU Bank sector has consolidated within a range and is nearing its support zone. ➖ Stocks to Watch - State Bank of India NSE:SBIN ● The stock is approaching its trendline support level. ● A buying opportunity may arise if the price reaches the 770 level. 4. Nifty Pharma NSE:CNXPHARMA ● After experiencing a downturn, the Nifty Pharma sector is now approaching its trendline support level. ➖ Stocks to Watch - Divis Laboratories NSE:DIVISLAB ● The price is overall in an uptrend. ● Following a record peak, the stock is now nearing its trendline support level. ● The best buy zone is between 5,500 and 5,600. 5. Nifty Media NSE:CNXMEDIA ● The Nifty Media sector is expected to witness a potential pullback towards the 1,720-1,760 level. ➖ Stocks to Watch - Network18 Media NSE:NETWORK18 ● The stock is trading just above its trendline support zone, presenting a short to mid-term trading opportunity. 6. Nifty Realty NSE:CNXREALTY ● The Nifty Realty index is currently trading above its support zone. ➖ Stocks to Watch - Oberoi Realty NSE:OBEROIRLTY ● The stock is trading at the support zone and expected to rise soon. 7. Nifty FMCG NSE:CNXFMCG ● After a downfall, index is approaching its trendline support level ➖ Stocks to Watch - Varun Beverages NSE:VBL ● VBL is trading above its support zone, offering a short to mid-term trading opportunity. 8. Nifty Metal NSE:CNXMETAL ● The Nifty Metal sector is trading above its support zone, ➖ Stocks to Watch - Ratnamani Metals & Tubes NSE:RATNAMANI ● The stock price has formed an Ascending Triangle pattern and is currently trading above the support level. 9. Nifty Oil & Gas NSE:NIFTY_OIL_AND_GAS ● The Nifty Oil & Gas sector is also trading above its support zone. ➖ Stocks to Watch - Aegis Logistics NSE:AEGISLOG ● The stock price is close to breaking through its trendline resistance. ● If it can maintain its position above this level, a rally may be imminent. 10. Nifty Auto NSE:CNXAUTO ● Lastly, the Nifty Auto sector is trading above its support zone. ➖ Stocks to Watch - Eicher Motors NSE:EICHERMOT ● Eicher Motors is consolidating within a rectangle pattern, indicating a potential breakout.
NSE:CNXITLong
by GoodluckCapital
2
NIFTY IT Break Down Before US ElectionNifty IT is currently break down and negative trend in before the us election. In the current market correction this is the one of the most positive and attractive sector in the indian market but this week the price is fall Nifty IT Company in the FII Friendly but Huge selling in the FII Less impact in the market. Now currently my point of the view after the US Election ( If Donald Trump Win ) One time this is show in the deep correction, but we are bullish because this is the more beneficial of the Interest rate cut
NSE:CNXITLong
by Anuragsahu001
NiftyIT - CNXIT - Weekly -Cup and HandleNifty IT Weekly analysis of the Nifty IT Index, showing a Cup and Handle pattern Key Insights: Cup and Handle Pattern: The pattern began forming around mid-2022 and completed by 2023. The breakout from the handle occurred around 38,539.00, which is a critical support level now. Measured Move and Target: The chart projects a potential upside target near 51,077.75, based on the height of the cup. A 48.01% gain from the lowest point of the cup is also marked, giving more context to the potential upside. The measurement from the cup's bottom to the breakout level shows a 32.48% gain potential from the breakout point. Price Action: The index reached a recent high of 43,645.90 before pulling back slightly to 42,089.30. The pullback might be a healthy consolidation after the strong upward move. Support Levels: Key support is identified at 38,539.00, which was the breakout point of the handle. The chart shows another strong support level at 26,164.20, which was the bottom of the cup, though this level seems far from the current price. Conclusion: The Nifty IT Index appears to be in a bullish continuation phase after breaking out of a multi-month cup and handle pattern. While the target of 51,000 seems plausible, a healthy pullback or consolidation might occur around the 42,000 to 38,500 levels before further upside. The CNX IT (Nifty IT) index consists of the major IT companies Here's a list of the top stocks that are generally part of the Nifty IT Index: Tata Consultancy Services (TCS) Infosys Ltd. Wipro Ltd. HCL Technologies Ltd. Tech Mahindra Ltd. L&T Technology Services Ltd. Mphasis Ltd. Coforge Ltd. Persistent Systems Ltd. LTIMindtree Ltd.
NSE:CNXITLong
by VCharts_TA
Nifty IT Index Date 18.09.2024 Nifty IT Index Timeframe : Day Chart Top constituents by weightage 1 Infosys = 28.45 % 2 Tata Consultancy Services = 24.57 % 3 HCL Technologies = 9.88 % 4 Tech Mahindra = 9.35 % 5 Wipro = 7.81 % 6 LTI-Mindtree = 5.81 % 7 Persistent Systems = 5.56 % 8 Coforge = 4.30 % 9 Mphasis = 2.65 % 10 L&T Technology Services = 1.61 % NIFTY IT CURRENT PE = 34.4 NIFTY IT DIV = 1.9 % NIFTY IT EPS = 1223 Remarks : Forming right-angled ascending broadening wedge at fibonacci extension 1.61%. If breaks the base of pattern then weak/bearish. Its kind of volatile pattern. Keep your position in Nifty IT stocks according to Nifty IT Index chart shared. Regards, Ankur
NSE:CNXIT
by AnkurSingh
CNXIT // levels // 8h"Welcome to SkyTradingZone " Hello Everyone 👋 Levels in CNXIT: Level 1: Junior Executive (JE) - ₹300 - ₹500 per hour Level 2: Executive (EX) - ₹500 - ₹800 per hour Level 3: Senior Executive (SX) - ₹800 - ₹1,200 per hour Level 4: Assistant Manager (AM) - ₹1,200 - ¥1,800 per hour Level 5: Manager (M) - ¥1,800 - ¥2,500 per hour Level 6: Senior Manager (SM) - ¥2,500 - ¥3,500 per hour Level 7: General Manager (GM) - ¥3,500 - ¥4,800 per hour Level 8: Executive Director (ED) - ¥4,800 - ¥6,400 per hour
NSE:CNXIT
by SkyTradingZone
The current level of the Nifty IT Index (CNXIT)The current level of the Nifty IT Index (CNXIT) is: 24,424.55 Please note that stock prices are highly volatile and can fluctuate rapidly. This level may have changed by the time you read this. If you'd like to know the current level, I can update it for you. CNXIT Technical Analysis: Support and Resistance Levels Short-term (4-hour) Analysis: The current level of the Nifty IT Index (CNXIT) is: 24,424.55 Please note that stock prices are highly volatile and can fluctuate rapidly. This level may have changed by the time you read this. If you'd like to know the current level, I can update it for you. CNXIT Technical Analysis: Support and Resistance Levels Short-term (1-hour) Analysis: Support Levels: 24,300.00 (Strong Support) 24,200.00 (Mild Support) Resistance Levels: 24,500.00 (Mild Resistance) 24,650.00 (Strong Resistance)
NSE:CNXITLong
by EmpireCrown
1
CNXIT BULLISH ! 1. Resistance Breakout: - The index has historically faced selling pressure at 38,653 - 38,405 Zone, causing it to reverse or pause its upward movement. - When a stock breaks above a strong resistance level, it means that buying demand has overwhelmed the selling pressure at that price point. This breakout is a positive sign, indicating that the chart may move higher, especially if it is a clean break (i.e., it closes significantly above the resistance level). - The **strength of the breakout** is often measured by the volume of trading activity. If the breakout occurs on **high volume*, it indicates that a large number of market participants are involved, adding credibility to the When a stock breaks through a strong resistance level and retests that level with good volume, it can signal a strong bullish move. Here's a detailed breakdown: 2. Retest of the Resistance Level: - After the breakout, it’s common to see a retest of the previous resistance level, which now acts as a support level. This retest occurs as some traders may take profits, or there may be some temporary selling pressure as the market re-evaluates the new price. - If the stock successfully holds above the previous resistance (now support) on the retest, it confirms that the breakout was valid. This gives bulls (buyers) more confidence that the level will hold and that the stock has further upside potential. 3. Volume Confirmation: - A retest with good volume is essential. If the stock holds the new support on strong volume, it signals that buyers are stepping in to defend the level, further reinforcing the idea that the stock is in a bullish phase. - Conversely, if the retest occurs on low volume, it may indicate a lack of conviction from buyers, and the breakout may be prone to failure. 4. Bullish Expectations: - When a stock breaks out of resistance and successfully retests it with strong volume, the expectation is that the stock will enter a new bullish trend. The prior resistance has now been transformed into a solid base of support, and the stock may experience momentum buying, pushing prices higher. - Traders often see this scenario as a low-risk, high-reward setup. Their stop-loss would typically be placed just below the new support level, while the upside target could be based on previous price patterns, such as Fibonacci extensions or previous highs. 5.Target : - it is on its all-time high targets on fib zones,pivots 0r based on future price action basis. # Summary: - **Breakout of strong resistance Indicates potential for higher prices. - **Retest of resistance as support Confirms strength of the move if support holds. - **Good volume on retest: Adds confidence in the bullish move. - **Bullish expectation Likely continuation of the upward trend. This combination forms a high-probability bullish setup in technical analysis. #cnxit #itsector #nifty
NSE:CNXITLong
by Sateesh07
CNXIT // Levels // 1 hour "Welcome to SkyTradingZone " Hello Everyone 👋 CNXIT (Nifty IT) index on a 1-hour interval Support Levels: These are price levels where the index historically tends to find buying interest. Look for recent lows or previous points where the price has bounced back up. Resistance Levels: These are price levels where the index has historically struggled to rise above. Look for recent highs or points where the price has reversed downwards. Support Levels: 42,800 42,500 Resistance Levels: 43,200 43,500
NSE:CNXITLong
by SkyTradingZone
CNXIT // levels // 1 hour "Welcome to SkyTradingZone " Hello Everyone 👋 Support Levels Definition: A support level is a price point where a downtrend is expected to pause due to a concentration of demand. It represents a level where buyers tend to enter the market, which prevents the price from falling further. Identifying Support: Support levels can be identified by looking at past price movements. If the price has bounced off a certain level multiple times, that level may be considered support. Trading Strategy: Traders often look for buying opportunities around support levels, anticipating that the price will rise again after hitting this level. Resistance Levels Definition: A resistance level is a price point where an uptrend is expected to pause due to a concentration of supply. It represents a level where sellers tend to enter the market, which prevents the price from rising further. Identifying Resistance: Resistance levels are identified similarly to support levels. If the price has hit a certain level multiple times and failed to break through, that level is considered resistance. Trading Strategy: Traders often look for selling opportunities around resistance levels, anticipating that the price will drop after reaching this point.
NSE:CNXITLong
by SkyTradingZone
CNXIT Levels // 25 MinHello Everyone 👋 Current Market Overview Current Level: 41,089.85 Market Sentiment: The IT sector has been showing mixed signals with some volatility due to global economic factors and earnings reports. Support Levels 40,800: This is the first major support level. If the index falls below this, it could indicate a bearish trend. 40,500: A stronger support level. Breaching this could lead to a significant downward movement. Resistance Levels 41,300: The first resistance level. Breaking above this could signal a bullish trend. 41,600: A stronger resistance level. Surpassing this could lead to a sustained upward movement. Indicators to Watch Moving Averages: Keep an eye on the 50-day and 200-day moving averages for trend confirmation. Relative Strength Index (RSI): An RSI above 70 indicates overbought conditions, while below 30 indicates oversold conditions. MACD (Moving Average Convergence Divergence): Look for crossovers to identify potential buy or sell signals. Recent News and Events Earnings Reports: Recent earnings reports from major IT companies can impact the index. Global Economic Factors: Changes in global economic policies, especially in the US and Europe, can influence the IT sector. Trading Strategy Tips
NSE:CNXIT
by SkyTradingZone
Nifty IT Levels For Long or swing TradingNifty IT Chart Overview: Current Value: ₹24,7801. Recent Performance: 1 day: +0.76% 5 days: +1.47% 1 month: +2.40% 6 months: +12.59% Year to date: +15.11% 1 year: +29.61% 5 years: +127.45% Key Data Points: Volume: Not specified Previous close: Not specified Open: Not specified Day’s range: Not specified Recent Analyst Views (August 22nd): Price was moving in a wide range for two days and broke out above the consolidation range. Buy Above: ₹24,780 Stop Loss: ₹24,740 Targets: ₹24,820, ₹24,860, ₹24,890, and ₹24,920 Sell Below: ₹24,680 Stop Loss: ₹24,720 Targets: ₹24,640.
NSE:CNXITLong
by Optionclub
IT Index Like Cup & Handle | Invest In IT ETF For Long termIT Index Like Cup & Handle | Invest In IT ETF For Long term IT Index was moving sideways for long time and after a long time now it has broken out. Like a Cup and Handle, I think the IT Index do well in the long term. That is why we should invest in IT ETF for long term. All Indicator in favour Like :- RSI- Above 60 in Daily, Weekly and Monthly MACD- Daily, Weekly and Monthly Positive Crossover and above Zero line EMA- Daily, Weekly and Monthly above 50
NSE:CNXITLong
by Titu8727
CNXIT or Nifty-IT Levels For Swing Trader's #stocksCertainly! Here are the intraday trading levels for the CNXIT or Nifty-IT : Intraday Trading Levels: For intraday trading in CNXIT or Nifty-IT , consider the following levels: Support & Resistance Trend Lines from Daily Chart: These trend lines provide important support and resistance levels. Previous Day High (PDH) and Previous Day Low (PDL): These levels act as support and resistance during live market hours. Remember that trading involves risks, and it’s essential to have a well-defined strategy and risk management plan. NOTE #This channel Purpose to share market ideas. Thanks for Watching🙏
NSE:CNXITLong
by Optionclub