The chart is self-explanatory as always.
Trump's tariffs have sparked serious recession fears in the U.S., negatively impacting both the U.S. economy and its trading partners. Nifty IT is simply following the lead of
NASDAQ, which saw a sharp decline of over 5% yesterday.
From a technical standpoint, the price is currently at a crucial level near the 200 WEMA. The key support zone, in my opinion, lies between 31,450 and 31,400, with 30,000 serving as a significant psychological bounce point.
Now will it respect these levels or just bleed on panic? Time will tell.
What is your take on this sector?
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.
Trump's tariffs have sparked serious recession fears in the U.S., negatively impacting both the U.S. economy and its trading partners. Nifty IT is simply following the lead of
NASDAQ, which saw a sharp decline of over 5% yesterday.From a technical standpoint, the price is currently at a crucial level near the 200 WEMA. The key support zone, in my opinion, lies between 31,450 and 31,400, with 30,000 serving as a significant psychological bounce point.
Now will it respect these levels or just bleed on panic? Time will tell.
What is your take on this sector?
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.
Note
Note
🎯 You can now access our personal charts for all Nifty 500 companies📈
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
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👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🎯 You can now access our personal charts for all Nifty 500 companies📈
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.