IT SECTOR : Still in uptrend
IT 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.
Only for educational purposes, not a buy/sell recommendation.
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