NIFTY IT CUP\Handle pattern has been made in NIFTY IT. Keep an eye on IT stocks for short positions.
CNXIT trade ideas
IT sectorNifty IT sector should probably going through this type correction on 1 HTF to see an up move from here
Cnx IT indexIT index shows positive move for breakout move in coming days
Relief rally expected in coming day for major IT stocks
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 !!!
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.
IT Scoter Overall U.S. data Negative view.
So this impact not favourable in IT stocks
This is not call my idea only. Please understand your risk and take full responsibility of your actions
Nifty IT Bullish BATAs many IT Stocks are falling. Hence Nifty IT is in Downtrend. We can expect reversal around 0.886 BAT Level.
Cnx IT index time and price AnylasisIT INDEX
Expected 38% retracement get over by 21 july where one relief rally pullback on card expected.... 25475-24690 zone for 30783-32396-34175
28 bar timecycle will be key for reversal zone
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.
Nifty ITlooks like nifty IT stocks will take support near 22235 in the near future, lets see what happens
Nifty IT is taking support at 61.8 Fib retracementNifty IT is taking support at 61.8 Fib retracement.
I am taking pivot of 8 March 2021.
if it further test this level and break this level it can bloodbath.
So be cautious in IT sector with strict stoploss.
Please consult with your Financial adviser before any decision.
I am not sebi registered.
It is only for educational purpose only.
CNXIT (NIFTY IT) - Box Consolidation or Rectangle patternCNXIT has been moving within a box range since 30th May 2022. It had broken out on the upside briefly on 3rd June before moving into the box again. Resistance at 29972 while support is at 29060.
GO LONG FOR NIFTY IT INDEX STOCKSMARKET STRUCTURE STATED IN THE GRAPH. According to Trend Analysis it is going upward with good move
Long IT Passive PositionJune week 1
Price 25% dip from CMP and 30% dip from ATH
Monthly support of 20EMA, Weekly Support of 100EMA.
Wait for Daily Supertrend to change to Green(Buy),
Passive : Accumulate ITBEES/IT MF
#keepITsimple
Nifty IT looks BullishNifty It in weekly time frame is at support and also 100 EMA. Could go long after confirmation of second weekly close.
CNX IT - Approaching Strong SupportCNX IT is approaching important support zones. If you are interested in IT stocks buy once we hit yellow zones for 15 to 20% returns in Short to Medium Term.
26800 to 27500 zone is good area to pick up IT stocks.
Preference: Mindtree, LTTS
NIFTY IT index near to very strong supportNIFTY IT index, weekly, charts are showing support coming at 24500 to 25700 range. Valutions in tech stocks are at lucrative levels. Also RSI of index is highly oversold.
NIFTY IT ?? OLD LINK I AM SHARING BELOW FOR BETTER IDEANifty it chart i shared on 4th may when it was at 30800, now CMP 27560
massive cut of 3200 points, falling like anything
pervious chart link i am sharing below
Please like and follow
A beginner's guide to trading - Chapter 3In this chapter I am going to discuss about how new bie trader views the share market and the out come of it. After reading this my dear readers, write about your experience, so that it will help new people to avoid such costly mistakes. Mistakes are always costly here and beginners do that a lot. There two type of new bie traders. 1. Completely new to share market. 2. People who invest in stock market and willing to become traders.
Most people when they are just new to share market, view trading as their “solution to financial problems”.
Ex 1 : With 10,000 Rs I can make 20 to 30 thousand or at least double it per month.
Ex 2 : I can take 50,000 Rs from my savings and triple it in a month.
Ex 3 : I can borrow 20,000 Rs and earn for my monthly expenses.
Ok, now logical explanation. Can you do brain surgery to a patient since brain surgeons are making huge amount for a single operation? You cant, right? Because you need to be a brain surgeon and should have good experience in surgery.
So in trading, why do you expect you will rock the trading world without any proper education or practice or experience? Why share market should give money to an unskilful person? As a beginner you need to find out what type of trading suits you. Ex : Momentum trading, break out trading, trend following, scalping etc. Whatever capital you are using will be gone in few days or months without any knowledge about share market. After learning about technical jargons, you need to learn your emotions during trading. This process at least need 1 to 2 yrs depending on your stability in mind.
Investment is different from trading : People who have made good money in investment think, if I can make this much profit in few yrs, I can make much more if I do short term trading or intraday.
Investment, swing trade, short term trade and intraday are entirely different from each other and everything needs different skill set.
Investment/trading based on news : Newbie traders or investors when they don’t have any technical knowledge think they can trade/invest based on news.
In the above example the price tested the support before moving up even though the stock has good profit.
In the above chart price gave good volume break out when the news was positive.
1st stock has more profit compared to 2nd stock, but 2nd stock has good movement. So trading or investing based simply on news is not enough. Check the option data to understand what majority of traders are positioning in the stock.
In the above chart price broke the support and fall down even though the stock has good profit. It breaks the common belief that price will move up if it has positive news.
Trading without having any technical knowledge is gambling. Dont gamble with your hard earned money.
Great expectations without knowledge is dream. Good expectation with goal is a possibility.
Nifty ITPattern Name : AB=1.272CD
Before you going to buy IT stocks You must see NIFTY IT
That’s Why This analysis
Entry Points :( 28663.40-27898.35 )
