Nifty IT is the only index that has not started any strong up move till now. A move above the 0-B trendline could kick off it's uptrend following which some IT stocks (like HCL) can be bought too.
A strong up move should start soon as we're already near 76% retracement. Otherwise it could make a new low negating ...
As per my observation, the stock looks weak and so as IT looks weak too.
I believe Tech Mahindra is in its third correction wave, in which 5th impulse wave in progress as per the elliott wave theory.
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