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NIFTY IT INDEX :: BIG ALERT Date : 13.02.2025 Nifty IT Index Timeframe : Day Chart Remarks : 1 Nifty IT Index is exiting the Diamond pattern towards downside, as a breakdown 2 Diamond patterns on the top of the trends or bottom of the trends are very critical 3 41700 is the level traders & investors should be watchful of on closing basis, daily/weekly 4 Closing below 41700 is cautious signal & try to soften positions in IT Sectors 5 The breakout level is 42950 & the gap between two levels is of 3% 6 That 3% gap between the two key levels is no trade zone 7 Future kumo is also expanding & forming flat kumo as strong resistance 8 At least wait for Nifty IT to resume Diamond pattern & then will see reversal happening or not Regards, Ankur
NSE:CNXITShort
by AnkurSingh
How to use technical analysis in trading ?How to perform technical analysis Identifying the trend. This is the first step in technical analysis for traders because trading strategies can either follow the trend or go against the trend. ... Drawing support and resistance levels. ... Establishing entry and exit points. ... Position sizing and risk management. Technical analysis seeks to predict price movements by examining historical data, mainly price and volume. It helps traders and investors navigate the gap between intrinsic value and market price by leveraging techniques like statistical analysis and behavioral economics
NSE:CNXITEducation
by Optionclub
Option chain pcr and its relevanceThe Put-Call Ratio (PCR) is a popular technical indicator used by investors to assess market sentiment. It is calculated by dividing the volume or open interest of put options by call options over a specific time period. A higher PCR suggests bearish sentiment, while a lower PCR indicates bullish sentiment. The Put-Call Ratio (PCR) is a useful indicator to understand the market sentiment at any given time. A high PCR suggests a bearish market, while a low PCR signals bullish tendencies. It helps investors assess whether the market is leaning towards optimism or pessimism, which can shape investment strategies.
NSE:CNXITEducation
by Optionclub
Nifty IT index Under Pressur ? Information technology (IT) sector challenges and possibilities in india The Nifty IT Index tracks the top IT companies listed on the NSE. It shows the performance and trends of India's IT sector, which plays a key role in the country's GDP Infosys Ltd HCL Technologies Ltd Wipro Ltd , LTIMindtree Ltd ,Tech Mahindra Ltd , Persistent Systems Ltd , Coforge Ltd , Mphasis Ltd , L&T Technology Services Ltd are major stock in IT index . Challenges: Global economic uncertainties Inflation and spending cuts Rapidly changing trends in digital technologies Possibilities: Growing demand for digital transformation. Emerging opportunities in Artificial Intelligence (AI), cloud computing, and data analytics. Increasing IT exports from India. The weakness of the dollar poses a challenge for the Indian IT sector: Revenue Impact: A weaker dollar reduces the value of dollar earnings in INR, lowering revenue and profits. Pricing Pressure: US clients may push IT companies to reduce prices or renegotiate contracts. Higher Costs: Inflation and currency changes can increase operational costs like salaries and services. Client Spending: US clients’ reduced purchasing power can impact demand for IT services. Cheaper Imports: Dollar weakness makes foreign tech and equipment purchases cheaper for Indian firms. Competitive Edge : Indian IT services may become pricier compared to global competitors. Export Dependency: Heavy reliance on the US market heightens vulnerability to currency fluctuations. Growth Concerns: Combined effects can slow revenue growth and sector performance. During COVID (2020-2021) and after, the IT sector saw a significant boom. The demand for digitalization surged rapidly. Technologies like cloud services, cybersecurity, and work-from-home tools became essential. IT companies benefited greatly from this unexpected demand. Compared to other sectors, IT had higher growth and demand. As a result, the IT sector performed better than most industries. The Nifty IT Index delivered record-breaking performance. Now, there is a possibility of profit booking in IT stocks. This is due to the high valuations after the sector’s massive growth.
NSE:CNXITShort
by manojshinde27
Market overviewAs we see overall Indian market is being negative. 1) The structure of nifty 500 is not good. 2) Nifty 50 is already broke inverted head and shoulder pattern. 3) Banknifty structure is little better but having low high structure. 4) Mid cap better than nifty 50. 5) NityIT is showing strength. it has already breakout its all time high and retracing back on 50EMA.RS is also positive. 6) Niftypharma is also breakingout from 50EMA RS is positive. mid cap better than nifty 50 7) Smallcap is showing strength. It has moved above its all time high and retracting back on 50EMA.
NSE:CNXIT
by manishverma11
IT SECTOR OVERVIEW: Super Bullish!Observation & Overview: 1. The IT Index was beaten down in late 2022. 2. After 2023 it formed a bottom and prices started gaining strength. 3. 2024 price started forming Higher Highs & Higher Lows, touched the previous 2022 ATH and currently, taking support from the 50% of the swing and also bouncing from a D tf demand. 4. It is acting as a major support zone and good weekly candle rejection can be noticed. 5. Signs of buyers getting dominant and it should break the ATH soon. 6. I'm expecting a minimum 15% ROI from this sector turnaround. 7. Hopefully, with sector rotation this sector is going to gain momentum eventually. - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:CNXITLong
by SuperNova396
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