Nifty IT Triangle BreakoutNifty IT will be my radar for up coming sessions. Might come for retest but over all looking good for up side.
CNXIT trade ideas
NIFTY IT : IN DECENDING TRIANGLENifty it trading in correction of 4 hour chart...and also rangebound trend....now trade in upper range of triangle....pricewise Correction correction is completed when Nifty it till 34400....and expected to till Feb 2022
NIFTY IT - CHANNEL PATTERN - PREDICTIONIn the channel, pattern sellers give the impulse move when the buyers struggle to push price higher. the buyers strength is gradually decreasing and the breakout is expected in downside.
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.
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Nifty IT34550 in IT sector can be a major support zone. Below this I will looking bearishness in IT Stocks. Keep an eye
IT sector - Harmonies Indian IT sector is currently struck in range , and forming bull flag pattern
How to trade in range -
abaove 35350 nifty IT will give breakoutabaove 35350 nifty IT will give breakout
RSI positive Divergance
taken support from demand zone on daily time frame
IT index looking weakexpecting IT index to hit 31000 in coming time.
after a long bull run time to book profits in IT sector
CNX IT - Rectangle formationCNX IT - Rectangle formation
CNX IT - Rectangle formation
CNX IT - Rectangle formation
NIfty IT IT Sector has given good move in last trading session , there is high chance that this trend will continue, but we need a short correction to enter , long in this sector
Stocks to focus
#MINDTREE
#LTI
#TCS
#WIPRO
#HCLTECH
#TECHM
#INFY
CNXITChart study shows bullish IT sector, dotted trend line drew on monthly chart from top of sep month and it's working fine on daily chart as support and resistence, which is broken upwards on Friday also, also closed above EMA20 entire week starting 8th Nov, 34400-34778 working as a great support since sep 1st week. Seeking target 37335-37823., if closes above 37900, can expect further momentum.
NIFTY IT Sector to be watchout !!🛑NIFTY IT Sector breakdown and closed below 34600 zone which is psychological support zone and by now,
◽ if it traded n closed above 34600-34700 zone then BUY on dip will work very well in IT stocks where every major IT stocks falled about 10-20% from their highs
◽ with market perspective 34000 will be very crucial support level to hold IT stocks ( and for NIFTY 17600 ) if breakdown this level then market will get major correction for sure
🛑IT sector to be watchout for up coming couple of weeks
NIFTY IT -NEoWaveUpdating the old published idea, As already mentioned there that the wave-B of the pattern is forming a expanding triangle, which is about to finished and it is ready for the wave-C of the larger pattern.
NIFTY IT - Daily NEoWaveNIFTY IT is about to finish its B lag, which will confirm about flat or zigzag pattern, once it confirm b lag end it will go for the lag c in down side. Minimum downside will be 34500.
CNXIT trend change create wave pattern + more conformation technique this is just for education purpose and observe some technical method commends bellow. thank you
Nifty IT 4HrNifty IT has just given a negative breakout and now creating a channel pattern
this week sideways movement is expected as it has corrected itself and will be giving an opportunity soon
CNX NIFTY ITThe reversal point is close. A higher USD is the perfect catalyst for this reversal.
A healthy correction has brought prices back to demand levels.MidCap IT should give a quicker buck
than the heavyweights.
NIFTYIT - SOFTER TONENifty IT with two working days to complete for the quarter and month, most likely to print toppish signal for the near term. On the daily we have pierced minor trend, which should ideally target the six month trend line around the 34600. Dollar sharper rise overseas, is not compensated by the rupee decline hence any incremental rupee fall is not an helping factor. Selling any rise towards 35600 stops 35900 for move 34700 (not one day expectation). Intra-day sell with stops 35600 for 35100.
