NiftyITNifty IT
Currently in a downtrend
Suggestion: As Shown Nifty IT has always bounced back once it reached close to its 50 Day Moving Average.
Hence Expecting a Bounce back Next week in all IT Stocks
If your a risk Taker
you can Buy All the Good stocks TCS, KPIT, Wipro, BSOFT, HCL Tech Today
which is still available at a Good price & You will get Rewarded well next week.
Note: The above is only for Risk Takers and just my Suggestion.
Safe Traders only enter once there proper reversal
Happy Trading
Like & Follow :)
Ping Me on whats app for any stock related suggestions - 9962 668555
CNXIT trade ideas
IT Index re-testing the Break OutIT Index had given a major BO from the squeezing triangle. Mostly it is coming back to test the breakout. Major supports here are 37362, 37264, 37196 and finally 37125. Mostly IT should reverse from that range. Post re-testing is done IT will slowly consolidate and move towards making fresh highs above 39442. Our target of IT Index for 2022 is 40211.
IT SECTOR : Still in uptrendIT Sector weekly chart shows uptrend is still intact. Index trading above 30 WEMA which suggests it is in Stage2- Uptrend. Relative Strength is positive as against the Nifty 50 Index. Larger stocks within the index have seen decent correction & seems to be forming bases for next leg of move. Will be considered weak if it breaks down below 30 WEMA. Would start next leg of upmove on breakout of the current trading (box) range marked.
Only for educational purposes, not a buy/sell recommendation.
NIFTY IT - ObservationForming a bullish pin bar pattern today, ie absorbing all the supply at day end.
However, I still do not feel confident to go long on NIFTY because unless this resistance is beaten down, we may fall several times.
Moreover, we also have a gap between 17100 to 17300. Index should cover this gap first.
Will advise to go long only if we get a decisive close above supply zone.
CNXIT (IT INDEX-NSE) Analysis For December 08, 2021CNXIT (IT INDEX-NSE) has show clear up trend. Important levels to check are 35380 and 35140. One can think to enter a fresh buy above 35400 and sell below 35140. Up trend may still continue and resistence are 35370, 35600. Supports on reversal are 35000 & 34850.
Reach us on TradingView to get Free Access to our Indicators!
Find BOBALGO on Tradingview.com
Whatsapp - 91 96240 44866