Nifty IT 26489 - Diverged momentum. Target 25560Nifty IT 26489 - Diverged momentum. Go short below 26620 for target 25560
CNXIT trade ideas
Nifty IT ChartIndex Chart-
#NIFTYIT
Formations-
1. Trading in Big Ascending Broadening Wedge Pattern
2. Finally index showing uncertainty after a big move
3. 26190 is confirmation support on the chart.
4. 27000 is Resistance level.
Nifty it is bullishNifty it is showing price retraced lil bit and made a strong bull which opeded higher(strong demand) and closed above all last three candles .we can notice 4 IT companies showing same pattern and strongly bullish. Take postion in - LTI, HCL,infoysis and Mindtree.
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NIFTY IT ViewNIFTY IT:
Symmetric Triangle in Progress
Can Breakout/Breakdown
Levels to reach in either case shown
Possible Breakout on CNXIT. IT stocks could rally.Look the chart for details. Exit positions below 21350.
Nifty IT ready for breakoutBulish view ready for breakout, its been a long time since this sector trading in a range.
Banking and Finance sector looking exhausted so sectorial change is expected. Levels to watchout for Nifty IT 21050 to 21500.
stocks like TCS, Infy, Wipro, HCL Tech, TechM can out perform.
#CNXIT CASH : LOOKS GOOD ABOVE 21500.10#CNXIT CASH
22.11.2020
LOOKS GOOD ABOVE 21500.10
STOPLOSS 21320
TARGET 21680-21700/21950-22000/22400
CMP 21409.25
IT Index going to crackdown from here?Nifty IT index is testing a support trendline that it has tested before (But managed to take support).
But how will it react this time?
Keep this on your radar. Big shots like TCS and Infy are breaking down by big numbers.
Please like and follow. NSE:CNXIT
Basics Of Elliot Wave TheoryThe rules of elliot wave theory are strict, any break of the rule may lead into wrong analysis, always keep rules on your mind while labelling the waves. If you're a beginner, write down the rules in a sheet of paper, read it before labelling the waves.
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This ANALYSIS is for EDUCATIONAL & INTELLIGENCE pourpose,Trade at your own risk!
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