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Cnxitlong

CNXIT : Good time to invest in IT ETF?CNXIT again trading near Weekly support, this could be good time to start adding IT ETF in portfolio for long term. if it goes down more, there is another strong support to add more. This my personal study & for educational purpose only. I may be 100% wrong. Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing I may be 100% wrong as its my personal trade. First Learn and then remove "L"
NSE:CNXITLong
by ChartsSpecialist
WORST IS OVER FOR INDIAN IT SECTOR As we can see that given chart the IT sector as form very good base , with bull sash candlestick pattern on last month low with fibonacci retracemet also at that same level suggest how important that level is for price. Bull sash is very pwerful bottom forming candlestick pattern with high success rate. As last week was bearish but this week price gapup plus give closing above previous week high. I suggest to buy top it sectors stock with IT Bees as it is good to accumlate the stock for longterm perspective
NSE:CNXITLong
by bhoirjanmesh3
1
CNXIT (NIFTY IT) LongBat Pattern: It starts with a bullish XA move. AB is then bearish . BC is bullish , and CD is bearish again. XA: This can be any price activity on the chart. There is no specific price movement in Bat chart formation. AB: The AB move should be between 38.2 to 50 % Fibonacci of XA. BC: The BC move should finish between 38.2% and 88.6% Fibonacci of AB. CD: Ideally point D should represent 127% to 161.8% Fibonacci extension of BC Leg. Look for entry at point D once you see the trend reversal. Profit Target: As mentioned in the chart. Stop Loss : should be just below X with a support channel. As you can see from the above chart the NIFTY IT (CNXIT) has completed the bat pattern and is moving up optimistically We should see the price touch target 1. Since it's on a corrective wave on Elliot's principle Target 1 is most likely to be completed. MACD has crossed the signal line on a weekly timeframe. INFY(Infosys) & BSOFT (BirlaSoft) are on the same trend line as the IT index. Disclaimer: “The above is an idea only and not any kind of any financial advice so please do your own DD (Due Diligence) before any kind of investment”. If you like my TA & ideas!! Want to keep yourself updated with current market action, then please follow my profile for more analysis.
NSE:CNXITLong
by Tron029
Nifty IT may take support at this levelCNXIT is traveling in a channel and it got a rejection from the top of the channel we have a demand zone for CNXIT from 34453 to 33500 We are going to be bullish in CNXIT until a daily candle closes below 33500. So we can plan swing trading in this sector and we can take long positions if get any long setup in the stocks which come under this sector but we have to wait until it enter into DemandZone. What we believe in:- °Trade With Logic °Take Time Before Investment Saving Your Capital 🙂 I'm not responsible for your profit or loss. Mainly Stock & Crypto Investor 🕵️ | The Indus Trader 📊 DISCLAIMER:- This Channel Is For ( EDUCATIONAL PURPOSE )
NSE:CNXITLong
by The_Indus_Trader