Nifty IT : Hits the Target zoneThis analysis we did and mentioned that above 14200 we can expect 14700-15000. The index is now moving as expected.
CNXIT trade ideas
Nifty IT - Harmonic Bearish Bat Pattern - ShortNifty IT has formed Harmonic Bearish Bat Pattern...
If Nifty IT falls below 14000 go for Short.
Target 1 - 13200
Target 2 - 12500
Target 3 - 11400
SL - 15000
Disclaimer: Kindly do your own analysis before executing the trade.
CNX IT takes Channel supportBuy CNX IT at 13314, with SL of 13000, for upsides of 8-10%. Alternatively, one can buy Infosys/TCS which are the key constituents of the index, contributing over 70% weightage.
SHORT Nifty ITMajor It Stocks about to break trend line and few stocks already break the trend line.If TCS and HCLTECH break the Tredline today nifty it will fall further.
Sector wise analysis of recent the correction and bounceSector wise analysis of recent the correction and bounce in March, April 2020. NSE:BANKNIFTY NSE:CNXPHARMA NSE:CNXFMCG NSE:CNXAUTO NSE:CNXMETAL
Nifty IT in DangerNifty IT has broken the channel but failed to hold it down however it has a chance to fall and retest the channel again with the pull back
Nifty ITIt has bounced from an extremely crucial monthly Ichimoku (Kumo) support. If it were to be held then all time frames suggest a consolidation between 14000-12500 would be likely. However, if it does not hold then the next major support is a Bullish Harmonic Shark at 10000. $:INR showing signs of exhaustion currently is a big issue with the sector.
One Index Which is still in Uptrend on Long Turm ChartIn this correction, the IT Index Long turm chart is still bullish. Somehow it manages to sustain above its major demand zone @ 13600-14300 on weekly chart and14500 is very strong support on the daily chart.
