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CNXIT trade ideas

NIFTY IT - The Trump Effect :XThe 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 IG: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.
NSE:CNXIT
by TheChartereds
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
5
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