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Nifty IT Index

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CNXIT trade ideas

Multiple Reversal patterns in Nifty IT !!!As visible on charts CNXIT has given a breakout from multiple reversal patterns which are Island Reversal, Double Bottom, Inverse Head & Shoulder. CNXIT has formed double bottom around 26450 along with RSI divergence and finally given its breakout at 28600. The index fell with a gap and also reversed with a gap hence, leaving behind an island and showing an island reversal pattern. Along, with above two patterns, inverse head & shoulder are also visible which further conforms to a reversal in the IT sector.
NSE:CNXITLong
by Chaser30
10
BREAKOUT IN IT SECTOR Indian IT Sector is very close to the breakout area. This breakout from the falling bear channel is also supported by RSI as we can see the Higher Highs and Higher Lows formation. Look for an entry in fundamentally strong leaders of this sector. !!! This is not an investment advice and do your own due diligence before investing/trading on any script !!! !!! This post is only for educational purposes and not advising anyone to trade on behalf of this trade !!!
NSE:CNXITLong
by ironscar_11
NIFTY IT SECTOR CNXIT WAVE STRUCTUREThis sector has completed corrective waves as wave A-B-C and now possibly wave X has been started as a retracement, Once it closes above 20DMA (middle Bollinger band on daily chart), then it can show good strength and go towards north directions, up to 38.2% of whole recent fall as wave A-B-C. Some price actions and some indicators are suggesting reversals after bearish fall, which are mentioned below. Hammer Sentiments, on merging last two candles on weekly chart price action is bullish piercing candle on weekly macd positive crossover on daily chart Stochastic positive on daily chart After oversold, now RSI is again above 40 levels on daily chart dmi adx positive on hourly chart dmi adx converging towards positive in daily chart Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:CNXITLong
by RK_Chaarts
2
CNX IT investment opportunity for short termInvestment opportunity in CNX IT As we can see the chart is of 1 week time frame. We have corrected from the highs sharply. Now the market moves in waves and is very unlikely to continue to fall further. Any fake breakout on these levels will trigger longs on th IT index. This is a weekly trade so you can invest in CNX It through IT bees which is trading at 28.05 levels. Targets will be the Fibonacci ratio between 0.618 and 0.5 which has been marked on the chart. Thanks.
NSE:CNXITLong
by TheWhiteTiger99