CNXITCNXIT has given BO on daily TF also it is able to sustain the supply zone
look for infy techm hcltech wipro
37100 above it has to sustain
CNXIT trade ideas
cnxniftyit in a range approaching upper rangelet us see what it will do as it is in a range one can see in chart and now approaching upper range on closing basis what it going to do??
observe it as posted for learning technical analysis via sharing .so views comment welcome.
CNXNIFTYIT index consolidation going on it index currently with 100 sma support consolidating in a range and trying to go up while still far away from previous high . what will it do have to observe with levels . posted only as learning technical via sharing and comment . confirm at ur end as markwt always high risky.
Nifty IT - Index - Flag & Pole1. Flag & Pole pattern formed after rally of 33%.
2. Only index to close in green on 17-12-21, where remaining indices were down by at least 2% on average.
3. However wait for clear breakout o 20-12-21 from Flag & Pole pattern to build positions.
4. Market bearish is a serious concern.
CNX IT looking bullishOn verge of Bullish flag and pole formation after sideways movement from 2 months, MACD also signaling a shift in momentum.
CNXIT 1DAY TIMEFRAME. As We Can See IT Has Given Best Returns witin Few Year.
In CNXIT 1Day Timeframe We Can See Good Consolidation In One Range Since 100 Days.
And Formed Bullish Flag Structure.
Look For A Breakout From Structure To Enter .
BULLISH ABOVE- 36900
TARGET - 37231/37841/38611+
NIFTY IT INDEX INDICATOR FREE PRICE ACTION ANALYSISIn the above chart, I have presented the NIFTY IT INDEX daily chart. We can clearly observe a bull run beginning from 28000 levels up to 37900 levels. After touching the highs of 37900, the Nifty IT Index has been consolidating in a channel which has a 10% range as indicated. The overall structure is of a Pole and Flag. Any breakout above 37900 levels can lead to a minimum of 10% upmove i.e. up to 42000 levels in short term. This upmove can play a role in Nifty 50 regaining its all time high again.
Suggestion:
Accumulate quality bluechip stocks in Nifty IT Index such as TCS, Infosys, Wipro, etc. at present levels for long term and short term investment.
** NIFTY IT index outlook for the next few months **Hello Traders., Today its 9 Dec evening..
We have found a descending triangle just at the top of the rally in the NIFTY IT index. And the Triangle is going to break.
Two things to watch out from here.. i) Firstly a huge momentum will be followed in the IT stocks when the triangle pattern breaks either on the upside or on the downside,
ii) Secondly the trend will be set and always follow the trend .
So please be careful in the investments that you take in the IT index stocks.
It's not long that we might see a good correction or a positive upside in the IT stocks .
I am not saying you to short or be long the IT stocks tomorrow but the Outlook is a terrifying . So please have a look. Time will say everything. Have patience.
NIFTY ITNifty IT is trading in channel pattern. It is showing very good strength. Relative strength and momentum both increasing as you can see in the chart.
Get Ready for IT BooomNifty IT forming pole and flag pattern on daily charts, keep a keen watch on this index, this is getting ready for next move
NIFTYIT at crucial level of supportIf Nifty IT breaks this level - 34500
then we can expect a big correction in IT SECTOR which was a major reason of Nifty rallying from 7500 to 18600 .
stocks which can correct to a greater extent in this sector are LTI,LTTS,MINDTEE etc Keep an eagle eye on this sector as well as this level.
Nifty it key levelsWhen you look at the RSI of NIFTY IT, it is in a kind of bearish-consolidation mode
Exit when you see a gap down*
Trade at your own risk this is just an analysis*
HOLDING PERIOD - 3-4 WEEKS
SL - 33984.60
TARGET - 36691.05..
Nifty IT.... BRoke important supportsAll Major indices are on a weaker not...
Sell on rise near the red line level 35512
Looking for a tgt of 33800
Bullish only and only above 36268
till then wait patiently and sell on rise...
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continuation to the previous study attached.
Sector Indexes: How They Stack Up against Nifty Nov 23Detailed analysis of how Sectoral Indices are stacking up against Nifty and new trends which are emerging out of the same
NIFTY IT ( a dip expected )NSE:CNXIT as long as its trading below 0.61% of total consolidation level of two months , shorts don't have any problem
IT looking Tired!IT is still comparatively in better position than Metal but it's showing tiredness. Confirmation in coming days.
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This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst.
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NIFTY AND BANK NIFTY LEVELS FOR 10TH NOVThis channel provides Nifty and Bank Nifty analysis and provides swing trades for equity.
The channel is also a provider of technical knowledge on technical analysis.
This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst.
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Maverick Trader
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NIFTY AND BANK NIFTY LEVELS FOR 8th NOV AND ANALYSIS OF NIFTY ITThis channel provides Nifty and Bank Nifty analysis and provides swing trades for equity.
The channel is also a provider of technical knowledge on technical analysis.
This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst.
Please support the channel by liking, sharing and subscribing.
Regards
Maverick Trader
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