CNXIT trade ideas
NIFTY IT - WEEKLY ANALYSISAs you can see in the chart. If we crosses above resistance of horizontal trendline marked in the chart we can see huge upside movements in the coming week. Keep a look at the nifty IT sector in the coming couple of weeks.
NIFTY IT, 4H, About to do something. IT sector is about to outperform. Keep tracking IT stocks like HCLTECH, INFY, etc.
nifty it index READY TO SHOOTNIFTY IT INDEX IS NOW READY TO SHOOT ....COMPLETED CORRECTION ON 3 HOUR TIME FRAME AND ALSO 4 HOUR TIME FRAME.... INFOSYS , HCL TECH EXPECTED TO LEAD THE RALLY
Nifty IT might be in Distribution zone,wait for box breakout.IT index within a year doubled from march 20 fall without any meaningful correction.
As wee can see big red candles ( marked with white arrows ) absorbing up moves in short time, i.e time required for up move is more than time required for down move.
To put in simple terms these few bid red candles absorb more green candles. After such move sector rotation is also expected.
There was a buyer trap also.
RSI divergence on weekly charts also visible now.
These observations make my view sideways to down side or limited upside
But direction will only be confirmed on box breakout, hence putting NEUTRAL view
Nifty IT retested support lineNifty IT retested support line for Triangle Pattern. Above 26640 we can see good move.
Nifty IT - Trend Analysis and Important CalloutsNifty IT has entered a long upward parallel channel and may follow it in coming days. RSI showing weakness therefore it is very much possible index breakout of parallel channel and further consolidate within the rectangular range shown in past few weeks.
Please do leave comment and share feedback. Any feedback is welcome. Thanks.
nifty it channel pattern nifty it is making channel pattern we can short the nifty it stock like infy, coforge, mindtree, tcs etc .
NIFTY IT INDEX CUP AND HANDLECOULD SEE BULLISH MOVE IN THE NEAR FUTURE IF IT COMPLETES CUP AND HANDLE PATTERN.
Analysis for coming day'sDo you your Own Study Before Entering All Analysis is Educational Purposes - RISING BULL
NIFTY IT LOOKS BULLISH FOR NEXT WEEKBOLLINGER BAND AND TRENDLINE BREAKOUT IN DAILY CHART, ALSO RSI CONFIRM.
#CnxIt cash : Looks good above 26900#CNXIT CASH
07.04.2021
LOOKS GOOD ABOVE 26900 Target 27140/27400
stoploss 28750
Cmp 26831
CNXIT 26491 - Turned bullish.CNXIT 26491 - Has turned bullish. Consider going long with support 25855.
