The IT Index has fallen sharply in this week. And as per the chart, it will take support between 30000and 31000 area.
The trendline as well as the downward channel will help in taking support.
So either slowly accumulate the IT index via mutual funds or start making entries in IT stocks near their respective support areas.
the stock is in consolidation mode. it has tested its resistance around 332-335.
if it closes above 335, then next target would be 348, 368,380.
For Intraday(15-4-20), Buy above 532 and Sell below 515.
After giving BO from 160 level, it is going in channel. it will come down to retest the BO levels, good to add around 155-158 levels for target of 172, 182,193.
Facing resistance around 1000, if able to break it and sustain for 10-15 mins then it could touch 1060-70.
if it enters the channel above 1100, then it can touch 1190-1200, the upper part of the channel.
it is inside the descending triangle with resistance at 360.
if it closes above 360 then next target will be 380-400.
Currently wait and watch.
if closes below 330 then 300 is the target
RSI showing positive bias
earlier the RSI levels re working as support, but now it started working as resistance.
It may go upto 2890-2900( FIBO-63.8 levels), there it will again face resistance.
as per PA, it has formed Inside bar, so currently it is in wait and watch position.
Buy above 2840 for 2900
