IT sector strong breakoutIT sector facing resistance level strongly.One of the strongest reasons for this is that there are elections in November, so we may see a bullish environment in the IT sector in the coming few months.
Trade ideas
CNXIT Index suggest CUP Pattern Breakout after ConsolidationCNXIT Index suggest CUP Pattern Breakout after Long Consolidation.
CNXIT Index is looking good for 50% upside move in next 1.5-2 Years.
Quality IT stocks can be kept in Portfolio for long term Gains.
Happy investing.
NIFTY IT INDEX LONG TERM CUP AND HANDLE PATTERNNifty IT index was showing longtime cup and handle pattern on weekly chart and now it is ready to breakout.
Chart Of the Week & Chart of the PatternIT stocks are showing very good strength.
This IT stock will give 2X retune in next 6 Months.
One extra stock for you all which is ready for big move.
Nifty IT - Inverted Head & Shoulder's PatternBreakout with Bullish Marobozu Candle (not exact)
RSI above 60 indicating High momentum
NIFTY IT INDEX LOOKS TO HAVE STARTED ITS UPTRENDNifty IT Index is turning up into a possible Bull trend. The index has made its first higher-high and simultaneously its momentum (RSI) too has crossed up into its bull zone, above 60, both for the first time since Feb 2024. its relative performance to CNX 500 is still -ve though. After the breakout price has been consolidating within the 7th June bull bar. A breakout above 35250 can see the IT index rallying up. Looks good time to focus on quality IT stocks.
Only personal analysis. No recommendation. Please consult your financial advisor for any investment or trading related decision.
IT seems coming out of consolidatationMulti year chart. taken multiple times support. Is it time to come out from consolidation and entering new uptrend?
Coming 1-2 months will be decisive. Keep a closer watch on IT index and IT stocks
NIFTY IT INDEXPossibility of NIFTY IT for a strong break out levels above 34240 can see a 1000 points upmove
IT index possible uptrendIT index has been consolidating since 3 yrs. This time it seems like come out from this consolidation. Keep a closer watch
IT sector looking bullishNifty It looking bullish. W pattern breakout and retest and Nasdaq is also at all time high.
Stocks like Tech m and TCS in focus. Above 21 Moving average which is bullish sign.
Nifty IT Index, Technical OutlookNow we have a strong breakdown of the compression zone.
The structure indicates the start of a downtrend.
The price could test the levels of 30,054 (Strong Support) which is 5-to-6% from the current level. On the up side the level of 35,188 will act as a strong resistance.
Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
IT Index at support...time to buy them Nifty IT CMP-33613
The correction in the index has halted at 38.2% of its swing. With RSI taking support above its bull zone of 40 is a further confirmation of the bull trend being intact. TCS on the other hand has already staged a breakout. Hence these corrections are an opportunity to buy.
NIFTY IT: The Next Big Sector to Watch and Invest in.NIFTY IT: The Next Big Sector to Watch. Regularly monitor and capitalise on entry opportunities. Hold the stock for one to three months to realise true profit.
IT sector ready for fresh upside move,buy on dip IT stocks On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
NIFTY IT DAILY. At a very good support level here at 33000. Today's low can act as support for the index in near term. If it breaks and closes below in daily TF, we can short IT undoubtedly but with today's candle low as SL, we can trade long for now. With minimum risk, we have max upside potential from here if market stays green & obviously sector remains positive.
Bullish# Define inputs
input lookback = 1;
input minVolumeMultiplier = 1.5;
# Calculate engulfing condition
def engulfingBullish = close > open and open < close and close > open;
def volumeMultiplier = volume / Average(volume, lookback);
# Plotting the bubble if engulfing condition is met with high volume
plot engulfingWithHighVolume = engulfingBullish and volumeMultiplier >= minVolumeMultiplier;
# Mark the candle with a bubble
AddChartBubble(engulfingWithHighVolume, high, "Bullish Engulfing", color.green, yes);
Bullish# Define inputs
input lookback = 1;
input minVolumeMultiplier = 1.5;
# Calculate engulfing condition
def engulfingBullish = close > open and open < close and close > open;
def volumeMultiplier = volume / Average(volume, lookback);
# Plotting the bubble if engulfing condition is met with high volume
plot engulfingWithHighVolume = engulfingBullish and volumeMultiplier >= minVolumeMultiplier;
# Mark the candle with a bubble
AddChartBubble(engulfingWithHighVolume, high, "Bullish Engulfing", color.green, yes);
IT is ready for trend changeAfter Claimed 10EMA IT is ready for new run?
IT Index is consolidate at support line and after break 33800 they will upwards.
Nifty IT BULLISHThis perspective is for mid and long term.
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IT Index was in 15 Months consolidation. What Next ?From the last 15 Months , IT Index (Sector)was in a consolidation,
now it is at breakout level on weekly time frame.
If break 31000 Level , can expect good move in coming Year.
Be ready with your IT stocks watchlist.
Please do your analysis before any Investment
Nifty IT analyasis on 02 May 24Nifty IT analyasis on 02 May 24
trying to formtion for cup and handle
cup and handle failed if closes below 32100
target 34000 - 35000 - 37000 - 38000 - 45000
cup and handle long term target 50000
Nifty IT Head and Shoulders Pattern Breakout Down SideNifty IT index (CNXIT): it has recently experienced a breakout to the downside from a head and shoulders pattern, indicating potential bearish momentum. This pattern typically signifies a reversal of the previous uptrend, suggesting a possible downturn in the IT sector. Traders may consider adjusting their strategies to account for the increased likelihood of further declines in Nifty IT stocks.
