IT sector in Stage 4STAGE analysis of IT sector.
As you know , every stock cycle has 4 stages
STAGE 1 accumulation
STAGE 2 Uptrend
STAGE 3 Distribution
STAGE 4 Down trend
CNXIT trade ideas
Load IT stocksIT stocks looks oversold
Buy IT stocks Infy, Wipro, HCL Tech or any good fundamental stocks for 20 to 30% initial rise
Good luck
CNXITit has formed ABCD harmonic pattern and also shark harmonic pattern. it can retrace till 0.38%-0.50% of point CD.
NIFTY IT can take some supportNIFTY IT after making H&S pattern given breakdown and has reached to max downside as per charts are showing. If these supports of 3000 broken then more 12% to 15% correction possible.
NIFTY IT SECTORThere is huge scope to come down in Nifty-IT
mostly WIPRO, INFY TCS will come down drastically
#NiftyIT - H&S breakdownNifty IT index has broken down from neckline of H&S
Target is 28400 however it could coil at 30500 for a while before starting the downward journey
NIFTY IT ??What do think what will happen next? it could reach S2 or not or will bounce back from here, results of IT stocks are not coming good as earlier
although if it reach to S2 it will not good for entire indian market
IT Broke Major H&S Neck Line and Retest also failed IT Broke Major H&S Neck Line and Retest also failed and it is in downtrend. NASDAQ also in down trend. Check stock specific charts and go for sorting opportunity.
CNXIT FORMING A WEDGE TYPE PATTERNIts looks like cnx it making a wedge type pattern if it breaks upper line it may can touch new high... in 3-4 months after...
Nifty IT It looks like Flag Pattern looking like flag pattern in 1day time frame it can bounce back and can breakdown for 29000 level
NIFTY IT at risk level as you can see nifty IT daily chart , it taking support at trendline .
and it also broken all pivot lines support levels .
if weekly close below trend line may dangerous
and also it may take next support at 29800 if it continues .
whoever investing now can work with small SL .
do research & learn .
it also forming CUP & HANDLE .
do like my idea if you agree .
Nifty IT Major support of 34400 broken convincingly.
Very rear and Extremely powerful breakaway gap on weekly chart.
RSI is making LH LL.
Fibonacci Retracement of 23.6% (32730) is broken and next 38.2% level is at 28576.
IT IndexThe IT Index has fallen sharply in this week. And as per the chart, it will take support between 30000and 31000 area.
The trendline as well as the downward channel will help in taking support.
So either slowly accumulate the IT index via mutual funds or start making entries in IT stocks near their respective support areas.
NIFTY IT in a Clear Breakdown from here to level to 29252 levelsNifty It looks like in a clear breakdown and may test 29252 level in coming week
bearish view on IT Sectorthe IT sector is now on very short position as you can see weekly closing gives indication of good weakness, 34200 is very critical level for IT sector if it sustains below and start trading below it then good fall expected in the sector
IT again come back to parelal channel IT Breakdown.. take trade with your own risk & money management
Weak signs in IT sectorIT sector is showing a huge divergence with respect to NIFTY 500. The relative strength is on a decline but the price is surging up. This seems to be a classic distribution pattern. In the near future we might see slowdown in IT stocks. The price action is also showing a broadning pattern which indicates high voltality in price action.
Time to risk off in IT stocks?
IT Profit Booking - 07/04/2022running through parallel channel
from bottom to recent top 14 % up, just profit booking 4%
Target 35065
trade your own risk
Breakout in Nifty ITBreakout in Nifty IT in one hour timeframe.
Disclaimer: This Ideas shared are only for educational purpose. I'm not SEBI registered.
NIFTY IT forming a rising channel on Hourly Time FrameNIFTY IT index is forming a rising channel on hourly timeframe, my suggestion would be to look for shorting opportunity in this space.
Look for stocks that are forming bearish pattern on hourly timeframe in IT space and then you can short those stock
Note: This is only for educational purpose and not a stock advice
Please provide any comment/ suggestions if you like the idea
