CNXIT trade ideas
#CNXITNear Fibo Support
Full strength candle
Top is confirmed W charts
On D, reversal confirmation in place with CCI-S
Can slide to 12442 and 11980.55
Pinbar Broken with strength
NIFTY IT analysis on smaller time frame (bullish)NIFTY IT forming ascending triangle and taking support on fib level NIFTY IT stocks can pump tomorrow
NIFTY IT (CNXIT) trendline on historical chartIt has been observed on NIFTY IT CNXIT weekly chart that a rising trend line has been acting as good support and resistance on several occasions.
PS: Request you to use this trend line setup as a supplement to your analysis before taking any position.
Thanks,
tRex
Jurassic Park
nifty it bullish on 4 hour time frame nifty it is taking support on the green zone and a fib level of 61.80 it can be more bullish
nifty it - heading for a correctionfrom last three weeks price is not able to break 16190 on closing basis
continuous rejection on higher level
short with 16000 sl for 15355
NSE IT - monthlyThe log-normal monthly chart of NSE IT. The price is approaching the upper part of the rising parallel channel.
Tech stocks may be in for another rallyApplied Fibonacci levels to IT index.
Index seems to be closing above it short term resistance oh 16086 level. A strong breakout above previous highs of 16130 will be a buying opportunity in Tech stocks like Techm Infy TCS Wipro Mindtree which have been strong.
Weaker rupee may be a trigger. But one should wait for a breakout and not hurry since they have rallied a lot this year.
CNXIT & TradingView-Both in Drivers Seat -9920 to 15000!!! 05:45 Hrs - 21st Aug 2018
Last Price@14996
Hello All,
Good Morning!
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CNXIT - In Driving Seat -That’s 300kph, not 100! (You can click the ideas)
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Tech Mahindra - Can double bottom hold at 453- Click the Idea to read
Tech Mahindra - Act like Lawyer -Turning from 442
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Infosys - 900 to 1400
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CNX IT - The Driver
What a rally from 9500-9600 as suggested -has up -up & away started....... reached highs at 15150 as on Aug 2018
30th Nov 2016 - W = Y = Z is equation solved
18th Jan 2017 - Revisiting The Sell Setup
12th Feb 2017 - Has the Up-Up & Away started at 9500-9600 zone
CNXIT: Inhaler of NIFTY
An Inhaler mainly used in the treatment of asthma (i.e. Breathing Problem )
Indian Market as well as World Market too have facing Breathing Problem in Upper Level.
Reason to Choose:
#1. Width of Bolinger Band Narrowed to near yearly.
Thumb rule: History Repeats.
Stocks to watch:
CYIENT', MINDTREE', HCLTECH', TATAELXI', TCS', INTENTECH' ...... more
CNX IT - W - negative RSI divergence could be forming - caution Price higher, RSI lower - classic RSI divergence in nifty IT
Nifty IT – Another leg of correction ?After the corrective move around end of April, the final leg of correction seems to have commenced in Nifty IT NSE:CNXIT .
IT stocks including large caps like TCS and Infosys witnessed heavy selling pressure today.
Looks to me that the selloff will continue and is the start of a corrective move in IT index before a fresh uptrend begins.
I can see that IT index formed an Evening Star pattern today with a large Bearish candle.
Even Nifty formed an Evening Star pattern today confirming the Double top structure which indicates that a lot of weakness is left in the markets and this time around we may see IT stocks falling with Nifty and Pharma stocks acting as a hedge.
Went short on IT stocks today with target of at least 13450 followed by 13300 and 13000 levels on IT index.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Nifty IT - Correction on cards?IT NSE:CNXIT has been a strong sector which hardly corrected when Nifty was falling since Karnataka election results.
However, today’s candle is a Bearish one with a long upper shadow.
Also, it faced stiff resistance around 61.8% retracement of previous fall from ~ 14300 levels.
I also observed the USD/INR chart and feel that Dollar has topped out against the Rupee for short term at least.
All these factors indicate that a large correction in IT may be due taking it below 13000 levels.
Took short positions on some IT stocks like TCS, Infosys, KPIT today.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
nifty it index and infy nifty it index has been taking support of gap .
i expect a resume in trend for a positional target of 14900
in it index infy chart is a good to watch
monthly view
daily view
stock has been consolidating in a range of 1100 to 1200 range . i expect this range to broken soon (upward) for an initial target of 1300.
nifty IT levels , possible upsides and slides !!!!!!plotted levels for nifty it , need to check it closely to take position in it sector !
