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Nifty IT Index

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CNXIT trade ideas

NIFTY IT: Is the Bounce Back on the Horizon?📈 NIFTY IT: Is the Bounce Back on the Horizon? 🚀 Current Market Price (CMP): 37,434 Stop Loss (SL): 35,700 Target 1: 38,733 Target 2: 40,527 📊 Market Overview: After a ~23% correction from its peak, the NIFTY IT index is showing signs of stabilization. The index has formed a small base on the daily chart and today breached a minor resistance, suggesting potential for a short-term upside. 💡 Key Insight: With April’s quarterly results on the horizon, the IT sector may experience increased trading activity, presenting short-term opportunities. ⚠️ Caution: The market remains volatile—smart position sizing and strict risk management are crucial for navigating current conditions. 📌 Disclaimer: Not a SEBI-registered advisor. Always conduct your own research before making any investment decisions. #NIFTYIT #StockMarket #TechnicalAnalysis #TradingOpportunity #MarketUpdate #InvestSmart
NSE:CNXITLong
by satyam15
NIFTY IT - After Effects of NASDAQ?📉The NASDAQ witnessed a sharp decline of approximately 4% yesterday, extending its overall downturn to nearly 13.5% in just three weeks, indicating a strong bearish sentiment. 📉On the other hand, Nifty IT has so far been holding above the 100-week exponential moving average (WEMA), which has been acting as a crucial support level. 📉However, given the significant slide in NASDAQ, there is a possibility that this support could be breached, which might accelerate further weakness in the IT sector. 📉If the breakdown occurs, two minor support zones could come into play and potentially act as temporary demand areas. 📊 Key Question: What Lies Ahead? 💡Will the IT sector continue its downward trajectory, or is this merely a short-term correction within a larger trend? 💡Keeping a close watch on price action to gauge whether the sector can stabilize or if further downside is imminent. What’s your take on this? Drop your thoughts in the comments! Disclaimer: This analysis is purely for educational purposes and does not constitute trading advice. I am not a SEBI-registered advisor, and trading involves significant risk. Please consult with a financial advisor before making any investment decisions.
NSE:CNXIT
by TheChartereds
#CNXIT #CNXIT Whenever market becomes expensive, they tend to move away from #gravity line. During 2021/22 top when IT was leading, index was very far away from gravity line and during Q2 & Q3 - there was heavy distribution followed by the jerk in Q4 results with breakaway gap, which made the stocks & index to go into major consolidation period of almost 1.5 years between 2022 to 2023. If history has to repeat, the rally in IT index which started from 32K levels since 45K-46K levels can be atleast used to lock partial gains and wait for any further bigger panic. What if, this structure again gets converted into H&S pattern, just like it did in 2022
NSE:CNXIT
by aktradelearning
3
Nifty IT Complex Cup with HandleNifty IT had broken above the neckline of Complex Cup with Handle Pattern as can be seen in the chart. It is down with some bad news in the Global Markets and currently, offers a sure shot returns of 21% as per the technical target. This is the easiest money available in the Indian market right now as the companies included in the index are some of the largest and most trusted with excellent track record. As they say, investors must 'Feel Greedy when others are Fearful.' The worst is over for IT and this SAFE CONTRARIAN bet will surely make you feel proud of yourself when it achieves target. You can trade this index with ITBEES ETF available on NSE.
NSE:CNXITLong
by Gaurav_Singh_5705
NIFTY IT (sector breakout) The IT sectorial index is about to give breakout after a consolidation of 3 years, it will be a multiyear breakout. Try finding IT stocks which are looking good on charts. Start part buying in IT stocks, one can look into ITBEES for safe investment. I feel the rally may be seen till September which is the month US elections. Proper risk management and portfolio allocation are the key points which should be considered as the Indian Markets are at All Time High. This is not a recommendation on buy/sell. Please consult your financial advisor before any investment.
NSE:CNXITLong
by Vallabh69
formation of cup and handle in progress for IT Index.A likely Cup and Handle Structure is forming in IT Index on Weekly charts. It has been underperforming since last 24 months or so. It had reached 39446 levels in January 22. Since then the peak remains unscaled. There were multiple reasons for this. Let us analyze the reasons which resulted in decline of IT Index and let us see how the future looks for it. Reasons for Decline: 1) Rate hike cycle initiated by US Federal Reserves to control inflation. Rate hike cycle was one of the main reasons for underperformance of It index. Rate hike meant decrease in spending and decrease in spending resulted in limited growth of this index. 2) Margin Pressure due to increase in spending. Most of IT companies and their employees enjoyed work from home during COVID. Work from home, worked in favour of many of these companies as there was decreased spending. Now in the post COVID era lot of companies had to/have to incentivise employees to come back to office. Regular spending on electricity, conveyance, office miscellaneous expense again came back to pre COVID levels. This has put pressure on margins. 3) Threat of AI is still looming large on It companies. Still it is to be seen if AI can replace a lot of work many of these companies used to do or not. The scale of effect is yet to be determined in toto but it looks like it will certainly have an effect. Indian IT companies are well known to adapt to the changing circumstances but it is yet to be seen and determined what future hold for IT companies. There was an article doing rounds if IT companies will have a similar fate to the cotton mills of past. The statement looks exaggerated but the days of unlimited growth seem to be over. Investors in service sector have to be rational with their expectations in future. 4) Rising sentiment of Nationalism across the globe. Rising sentiment of nationalism and be local buy local employ locals can also effect a lot of these companies. Hiring locals rather than shipping employees from India on H1B visa will definitely effect profit margins. Reasons why IT Index might rise and shine. 1) US Fed has commented that we are looking forward to at least 1 rate cut in this year. The logic is that if you fall due to rate hike you rise due to rate cut. Market is forward looking and the reason of bottom formation and recent or future rise can be credit to forward looking nature of market which will take into account rate cut or will take into account the same. 2) There are green shoots visible which indicate fresh lease of life to the stagnant or underperforming index. 3) Indian It companies are known for their resilience, deep pocket and adaptability. They are capable of making subtle or large scale changes to their work culture, work ethics and work to incorporate AI and use AI to their favour. (Whether it actually happens is yet to be seen.) 4) On charts if the recent low of 31467 is not broken and future resistances of 35201 and 35962 are taken down we can see an up move towards the targets of 36952, 38530 or even the previous high of 39446. If 39446 is conquered in future within this year with a weekly candle. We can see further upside. Stocks that constitute IT Index are TCS, Infosys, HCL Tech, Wipro, Tech Mahindra, LTIM, LTTS, Mphasis and Coforge. In addition to this selective Mid and Small Cap IT companies can also follow the suit of the big players. In the space of Mid and Small Cap IT companies there are players like OFSS, Coforge, Birla Soft, Affle, Mastek, Happiest minds, FSL, Map My India, Eclerx, Tanla Platforms etc. We are not giving a buy or sell call on any of these companies. This is just an educational article explaining the potential moves of It Index, How it can move in either direction and what can be the reasons behind it. Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risks, please consult your investment advisor before taking financial decisions. The data, chart and other information provided above is for the purpose of analysis and is purely educational in nature. The names of the stocks or index levels of spot Nifty mentioned in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:CNXITLong
by Happy_Candles_Investment
Market View 10 Jun 2004: IT Stocks Expected to Dominate Today What happened in Last 48 Hours: On Daily candle, Nifty IT Index's Buy Signal has triggered and Price has gone above the cloud area plotted by Option Scalper (see chart above). Global IT stocks have also performed well on Friday. On Daily Candle, top 3 stocks (out of top 40 stocks in Nifty50) picked by Zeta Stock Scanner are IT stocks. PM Modi has taken oath and the uncertainty over government formation is over. Only worrying thing is, huge Short Positions of FIIs in Index Futures. They hold nearly 42% Short Positions and just 17% long positions now. It is expected that market will follow global cues and IT stocks will perform well, but overall gain in the Index is expected to be moderate until Thursday by when US FED's interest rate decision will be announced. Instead of Index Options, go after individual stocks as they are expected to give better returns than the index. Happy Trading.
NSE:CNXIT
by jellygill