result session will start with some infosys after the new guide lines in oct'16 and trump win in usa ... let's see what will happens in IT in india
CNX IT possible count. If this count is correct, an impulsive move to the upside should start.
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. Preferable Risk and Reward Ratio
CNXIT is interestingly poised. A break of 11475 can give a low risk short Trade entry. While on the upside 11650 will hold the key. Current position is Neutral
CNX IT Daily Sentiment is negative and down for the consecutive 11 days. Possibly oversold and could bounce back in the shorter term. However last week earning results on the IT stock made the weekly sentiment to turn down. So the overall bias on the CNX IT stocks are wait for the bounce to happen followed by a sell of as the weekly sentiment shows medium term...