Is CNX and Nifty the same?
Also known as the National Stock Exchange Fifty, the Nifty is the benchmark index of the National Stock Exchange (NSE). The index was introduced in 1996 and is also referred to as CNX Nifty and Nifty 50 by traders.
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CNXIT breadth is 100% since 3rd May 2023
past 20 year this index is in parallel channel.
after sideways movement can we may expect an upmove which will bring bear trap for current setup
Nifty IT index (CNXIT): it has recently experienced a breakout to the downside from a head and shoulders pattern, indicating potential bearish momentum. This pattern typically signifies a reversal of the previous uptrend, suggesting a possible downturn in the IT sector. Traders may consider adjusting their strategies to account for the increased likelihood of...
Nifty IT sector might be in pain; technically, as seen on weekly chart - it is crucial to see whether it takes support and reverses at 33400. If it falls below it, then IT sector would be under deep pressure.
This is for Educational purpose only views based on price action, Elliott Wave & Fibonacci. Views expressed here are not for investors/traders. Do your own...
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*** Nifty IT index coming to bearish teritory.
*** IT index in daily TF broke down below 50 MA
*** momentum downside
*** bigg red bearish candlestick 🔴
*** major support of 36750 broken
*** trendline broken with gap
*** which stocks I analyse.. Please let me know in the comments below. Will post detailed...
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IT Index looks v strong, this phase of consolidation would be a great opportunity to add more.
Breakout above 38100 for 38500-39500-45000 with immediate support at 37300, below that next major support near 36500.
Happy investing
Nifty IT remains weak below 38040. Trgs on chart. Expecting 36689.
Probable trend change dates also given. Mark H/L of these dates.
Angles are plotted based on some Gann technique.
View is not a recommendation to trade.
NIFTY IT Index Ready for Breakout on upside - 40% upside in 1 Yr possibility.
IT Index showing multiple Positive momentum with Flag Pattern breakout & initial targets coming as 40% upside from current levels after CUP pattern breakout.
Happy Investing.
NIFTY IT INDEX GANN ANALYSIS 09 FEB 2024..
If you know the Cause...
You can Perceive the Effect...
Failure OR Double Top OR Breakout ....
Will be watching... IT ....CRITICALLY .....
Happy Trading !!!
CNX IT INDEX: has been in consolidation for the last over 15 months. For the last 10 months the index has been making Higher Lows & Higher Highs and is currently trading about 6% below its Pivot, about 39,500. Its relative performance to CNX 500 has been taking support near its mid Sep 2022 low. For the last 10 months the relative performance has been stuck in a...
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
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- ready to break flag & pole pattern
-previously it broke resistance and shootup then again took support in previous resistance
-now taking support again it sector ready for upside momentum
-my targets for IT sector is 48000 from here which is almost 27-28%
-keep eyes on IT stocks
Giving a breakout now from the rounding bottom should give a good swing all the way till 47000++ Time to buy IT Stocks with good valuations and fundamentals.
Targets mentioned.
