TCS is near support but also weaking with resistance of a trendline and breaking below 200 dma.. over the history of the last few years, on daily charts it doesnt stay below 200 dma for a long time..it rebounds and goes sideways..
Ajanta pharma..crossed 200 dma and restested once and is facing resistance from the trendline..
break above trendline can make it bullish
Info of zone in action in chart..
NOTE: this is my personal view only
Bank nifty is in a wedge, and is approaching the so called left shoulder..
Markets have been squeezed in the last few weeks and continuing to be squezed
Bank nifty is the only index helping Nifty stay float in green for the last few days..
NOte: this is my personal view only
CNX IT has closed below 200 dma and for the 4th time testing 200 dma
failed to cross 100 dma
also a clear bearish divergence has been unfolding.
rupee below 70. weak forecast from US tech companies
all favoring against the IT index.
NOTE: this is my personal view only..