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Nifty IT Index

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CNXIT trade ideas

Endurance Tech - Amazing 2 Cups of Morning Hot CoffeeYesterday 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 closed just above the Support lines Overall Indian markets turned bullish across all sectors despite weak Global cues from US, Europe & Asia Today - as predicted, NIFTY IT index rose 1.35% in the morning taking all IT stocks sky high Endurance Tech: Double Cup & Handle Pattern (one on Weekly & one on Monthly) gave me the Morning Boost of Caffeine already :) Monthly: Large Cup & Handle (Slanting) with BO above 2350 and Target 3800 Weekly: Inside the larger Handle - on weekly scale another Cup & Handle was formed and BO already done 2 weeks ago with target of 2450. Today's rejection is from the Larger C&H Trendline - which is also expected. One Cup of Coffee done - another one pending :) Keep holding your winners. Remember - we (Stocks-n-Trends) are NOT SEBI registered entity and our focus is not to provide calls. We rather Teach you how to use Technical Analysis to make money yourselves. Learn to Ride the Tide whatever be its Side :) - Team Stocks-n-Trends
NSE:CNXITLong
by Stocks-n-Trends
Decoding the Mystery Behind Dec 20 Fall - The SummaryThere 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 - No Santa. If you learn it - you can predict it and save your money. Don't sell your positions now as it has already gone down badly. But next time, when all sectors "Kiss their Resistances and your stocks are at Peak - Book Profits and Wait" If you Truly want to Beat the Market - Master the Analysis first Hope you all like my Analysis and its clear and understandable to all. The cumulative action of Resistances across sectors caused Retailers to see a mass Red activity across the board and triggered PANIC Selling FIIs and DIIs cashed in the opportunity like a Christmas cake 🍰🍰🍰 We were just manipulated. The market will rise soon and whoever sold off the positions would learn the trick Please do Share your Valuable Feedback / Comments (even if you don't agree - let me learn something from you) 🙏🙏🙏
NSE:CNXIT
by Stocks-n-Trends
Index Study of the week - IT IndexThe index we will study and try to analyse this week is IT Index. Having look at the chart we can understand that IT Index is trying to give a major trend line breakout. If the IT Index can give a closing above 33449 next week what looks probable is a decent come back in large cap IT stocks. The IT Index made a bottom near 26192 and has been consistently moving positively since April 23. It got a much needed correction between September 23 and October 23 but is again trying to move positively after having take support of 50 Weeks EMA during end of October 23. The range between 33449 and 34298 will prove to be a major hurdle but once we get a closing above both levels IT index can see a major move in the next few months leading to General election in April/May 24. The up move can be around 10 to 20% in the next 6 months to 1 year. Somewhere in the range we might also see a support retest / consolidation / reversal but overall correction phase in It index seems to be over for now. In order to capitalize on the future probable move in the IT Index One can have a look at the companies which constitute this index. Some of which are: Infosys, TCS, HCL Tech, Tech Mahindra, Wipro, LTIM, Mphasis, Oracle and Coforge. Amongst these companies you can select the companies that gave great result and are looking good in Techno-Funda Evaluation. To learn more about Techno-Funda evaluation of the company you can contact me and follow our content on our other Social Media Accounts/Tradingview.
NSE:CNXITLong
by Happy_Candles_Investment
Nifty IT sector more upside pending On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:CNXIT
by JaiPrakashShuklaHarmonicTrader
1
Chart of the week. Nifty IT. 9/10/23After making a all time high in Jan 22, CNX IT was in down trend. Since May 22, the index is consolidating in parallel channel, hence ITBees were recommended for accumulation on 13 August. After multiple attempts, last week the index gave a successful closing above 31100 resistance. I was waiting for the confirmation candle which were given last week. Therefore, we can assume CNX IT will lead the index now. CMP - 32450 W T - 33100, 34350, 36400, 39000
NSE:CNXITLong
by AbNamjoshi