CNXIT trade ideas
NIFTY IT - Observation NIFTY IT - Observation
Watch the historic chart of IT index.
It is replicating it's historic movements.
I am expecting IT index to cool down and come near to 21 ema or become range bound for some time now.
I can be wrong as well here.
At support zone
If this support is broken expect a good downfall
Watchout for any reversal indication
NIFTY IT RISE IS FOR SALE NOT TO BUYniftyit showing rsi diversions iftyit showing rsi diversions
iftyit showing rsi diversionsiftyit showing rsi diversions
iftyit showing rsi diversions
iftyit showing rsi diversions
Retest for it sector IT Sector flying , Retest then fly. In it sector there is some correction is possible.
IT Index @ support : Go LONG in select IT stocksTop Down trading strategy
- IT index at RS support.
- Go Long in select IT stocks which are having similar structure to the IT index.
notable IT stocks to initiate positions now:
hcltech
sonatsoftw
ofss
cyient
NIFTY IT : IN CHANNELNIFTY IT AGAIN ENTER IN CHANNEL...False Break out was seen on Saturday but due to Heavy selloff in market Nifty IT Again Enter in DECENDING TRIANGLE
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.
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.
