Hello & welcome to this analysis
WIPRO in the weekly time frame has activated a Bullish Harmonic Alt Bat.
It could be accumulated between 360-415 for upside targets of 525-600.
View goes wrong below 325
CNXIT again trading near Weekly support, this could be good time to start adding IT ETF in portfolio for long term. if it goes down more, there is another strong support to add more.
This my personal study & for educational purpose only. I may be 100% wrong.
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Disclaimer
I am not sebi registered analyst
My studies are...
Nifty IT Index breaks trend line at weekly candle also now at retracement for uptrend ,buying this range is better risk reward for long-term perspective.
As we can see that given chart the IT sector as form very good base , with bull sash candlestick pattern on last month low with fibonacci retracemet also at that same level suggest how important that level is for price.
Bull sash is very pwerful bottom forming candlestick pattern with high success rate.
As last week was bearish but this week price gapup plus give...
Key highlights: 💡⚡
On basis of Weekly Time Frame
📊 Currently NIFTYIT has given Double Bottom Breakout with confirmation.
📊 Keep an eye on IT sector's scripts.
📊 Example : LTTS , COFORGE , TECHM
1st Target - 32816
2nd Target - 34381
Support - 30559
⚠️ Important: Always maintain your Risk & Reward Ratio.
⚠️ Purely technical based pick.
✅Like and follow to...
Key highlights: 💡⚡
📊 Currently NIFTYIT may take support of level 28663 which was previously working as resistance.
📊 If it is breaking support level one can go for SHORT into IT sector.
📊 Example : MPHASIS & COFORGE for SHORT.
IF SUPPORT LEVEL IS BREAK THEN ONLY GO FOR SHORT TRADE.
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to...
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: its my view only and its for educational purpose only. only who has got knowledge in this strategy will understand what to be done on this setup. its purely based on my technical analysis only (strategies). ...
Bat Pattern:
It starts with a bullish XA move. AB is then bearish . BC is bullish , and CD is bearish again.
XA: This can be any price activity on the chart. There is no specific price movement in Bat chart formation.
AB: The AB move should be between 38.2 to 50 % Fibonacci of XA.
BC: The BC move should finish between 38.2% and 88.6% Fibonacci of AB.
CD:...
Bat Pattern:
It starts with a bullish XA move. AB is then bearish . BC is bullish , and CD is bearish again.
XA: This can be any price activity on the chart. There is no specific price movement in Bat chart formation.
AB: The AB move should be between 38.2 to 50 % Fibonacci of XA.
BC: The BC move should finish between 38.2% and 88.6% Fibonacci of AB.
CD:...
Keep an eye on CNXIT - Index of IT Sector
Index is at its resistance zone around 28460
if it gives breakout it will give rally of 2-3% upside.
Keep tracking IT stocks Which can give good amount of return.
example :
COFORGE - Symmetric Triangle Breakout
Hello and welcome to this analysis
TCS is attempting a breakout from its slanting channel which suggest a possible upside till 3350-3450 as long as it does not break below 3075
It could be the rank outperformer among IT stocks in the month of AUGUST.
Hello & welcome to this analysis on the IT Index.
With Q4 results starting from 2nd week of April, IT stocks will once again be in limelight.
If the index can sustain above 36700 it could lead to rally till 37750-38000 where it has a line of polarity besides a Bearish Harmonic Cypher.
This continuation of bullish outlook is valid till its above 36000. Failure to...
CNXIT is traveling in a channel and it got a rejection from the top of the channel we have a demand zone for CNXIT from 34453 to 33500
We are going to be bullish in CNXIT until a daily candle closes below 33500.
So we can plan swing trading in this sector and we can take long positions if get any long setup in the stocks which come under this sector but we...
