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Nifty IT Index

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CNXIT trade ideas

Nifty IT heading for correction to sideways move.At Red arrows One can clearly see when moving averages 20 SMA & 200 EMA go far away from each other and also the price goes much away then, basically expansion phase, the there is pause in momentum and There is sideways to downward movement. This is Contraction phase. Basically mean reversion of price. At Green arrows For a healthy up-move price & moving averages should come close to each other, basically contraction phase, then only rally in IT stocks start that is again the price go in expansion mode. Mean reversion is complete here. Price again starts to move away form averages & averages start to go away from each other, this is the beginning of expansion phase Now we are already moved up much higher and away from moving averages and moving averages have also moved away form each other. Current move is much stretched. Now if the above observation holds true in current case we may see a sideways to downward move in coming days. Now no one can predict how much up-move is still pending but yes the fresh buying at such high levels must be avoided. Booking profit in existing positions must be done. Nifty IT can even rally more but the upside will be capped and breakout trades will fail here in individual stocks. Fresh Longs should be avoided and short trades should be looked upon. At such stretched moves Risk for short trades is much lower and Long trades is much higher. Partial booking of profit in long positions and holding rest with CTC is advisable as of now. One can take it as a warning sign to long positions! Everyone knows how to enter trade, but many still lack the exit plan. After trend reversal everyone will sell or buy but to take out maximum juice out of the rally you need to have such reversal points based on previous moves. If you go by bookish knowledge you'll buy at such higher levels based on breakouts and when such breakouts fail will be stuck at higher levels. For example everyone knows buy after a morning star & sell after evening star, but which Morning start to sell and which evening star to buy is the real key to make super gains. Pro- Active approach is rewarded higher than the Reactive approach
NSE:CNXITShort
by varadtambolkar
Nifty I.T. Up trend continuationIndex is respecting the rising trendline support and bouncing ever time it touches the demand zone,, bullish candle formation after small consolidation,,, MACD have given positive cross over after the retracement of last up move , indicate up trend is intact and will continue RSI have started making higher high and higher low after the retracement from 90 to 50 levels,, Till the levels of 29284 in not broken on weekly basis,, buy on dips can be used on I.T. sector,,
NSE:CNXITLong
by RUDRA007
NIFTYIT/NIFTY at the Top of RectangleNIFTYIT/NIFTY ratio chart has been trading in a range for the last 9 months since Sep'20, as shown in the rectangle pattern. The chart is breaching the top trend line of the pattern with momentum. RSI, the momentum indicator, never reached oversold conditions at the two times the ratio touched the bottom of the rectangle, indicating strength. The RSI is also well above 50 and in bullish zone. Based on this ratio chart, we can expect NIFTY IT to outshine the NIFTY index in the coming weeks if a breakout happens successfully. We will be monitoring the price action and keep this segment updated as and when we see a successful breakout or a fake out/breakdown.
NSE:CNXIT
by vipulmehta817
Trader's Queries - Capital requirement for tradingQuery : How much capital is needed to trade? This is one of the most frequently asked query from new traders. I have seen people who have the opinion, “50 Lakh or one crore capital make trading safe & secure”, “only people who have capital more than 50 Lakh only earn money from trading” etc. Its true that without capital we cannot start any business. Its also true that we don’t need 50 L to one crore to start any business. Trading is a business. Its the only business which has the capacity to give us unlimited profit. To reach that level of gaining “unlimited profit”, a trader has to make him qualified. So when a trader is preparing himself to become a “pro trader”, he has to start with the amount he can afford to lose. Meaning, a person should not borrow or get loan to trade. The capital should not make a person sad or depressed if he lose his entire capital. Remember, a trader won’t gamble if he treats trading as a business instead of casino. Understanding this is the key for your success in trading.
NSE:CNXITEducation
by vanathi
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