- Here is an update to the Nifty IT analysis we posted back in 2022.
- The price action is pretty sluggish. Literally "Trading in the Zone" ( Get it? If not you need to read that book " Trading in the Zone by Douglas" It will teach you the psychology aspect of trading)
- We will keep updating the price action as it unfolds.
- In the meantime, look at how NDX has...
Hello All,
The recommendations are purely for educational purpose only, consult you financial advisor before trading.
Targets are mentioned in charts (either red lines or balck lines), keep Stop Loss as per your risk..
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Have a profitable year ahead
Gautam Khanna
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Daily Gap in the chart
Breakout Retest done
Accenture Result over Worst is over in this quater
For 12Months is Good Level for investment through ITBEES or Tata digital Mutual fund
For last few weeks we have been looking at indices. By the study of a particular index we then try to determine about investing in components of that index or the stocks that from that particular index. In the series we will today have a look at IT Index.
IT Index is looking very interestingly poised currently. There is a Doji of indecision formed. As of now the...
The IT index has completed its 5 waves as per elliot wave, hence, I am expecting some correction now that should ideally last around 4-5 weeks.
Post-correction we should see another strong rally that takes us above the ATH of the Nifty IT index
I may be wrong, please do your own research
Nifty 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...
Nifty IT sector has almost completed the rounding bottom pattern. This consolidation phase was more than 2 years long. Thus, the probability of a sustainable breakout is high. I will look to go long in IT sector leaders via call options/ cash buys. What about you all?
PS: Typical targets are the depth of the rounding bottom pattern which is 29%. This can be...
Yesterday after market close - we published chart of Nifty IT stating the IT Sector would snap the 5 day Fall and would bounce back today
Reasons for IT bounce:
Double Top neckline Support (not broken)
2 support lines from the Gap Up candle (one support at top of Gap and one at bottom)
Good rejection seen from DT neckline + both ends of Gap - and price...
IT Index is breaking out from falling channel on monthly as well as on weekly basis.
Many IT stocks looking good.
But best way to take advantage is by investing in ETF of IT Index which is ITBEES cmp 30.90, Index is around 29600 can achive target of 33000/35000/41000
There are few more sectors - but I think the above 8 analysis would have given you clarity of what's going on
When ALL Sectors face their individual Resistances together and everything starts to fall - it Attracts People's attention and Triggers PANIC causing much bigger Fall.
This is Technical Analysis - Undisputable - No Stories - No Assumptions - No Covid -...
8. Nifty IT -1.71%
3 Months - Upward Parallel Channel - already rejected from top few months ago and 2nd attempt to break ATH going on
Weekly - Beautiful Inv. H&S Pattern - BO is also done - Facing Rejection from 3months Resistance line around 36220 levels and coming back to Retest BO zone
Is anything wrong here ?
