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Nifty IT Index

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CNXIT trade ideas

NIFTY IT - Just a viewKey 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 never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:CNXIT
by radha_23
1
Nifty IT to rise!!, bear runs waves gets overNifty IT- target 30500 cross. i have drawn the waves for the short term, it looks like nifty it has completely corrected, and now it has to start its run. it will go up, with a rally or with some corrections in between(idk), but i guess it has touched its bottom, and will now move upside. plus, have look on rsi indicator, and macd(strategy). they have started to show some divergence, so if by chance nifty it falls, it will not majorly affect much, and will continue its bull run.
NSE:CNXITLong
by raghavchoudhary2016
CNXIT - 240 MIN TIME FRAMEThe 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). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves). Just ride the bullish or bearish impulsive move. Learn & Know the Complete Market Cycle. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support....
NSE:CNXITShort
by Tradelikemee
CNXIT (Nifty IT) Long, INFY/ BSOFTBat 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: Ideally point D should represent 127% to 161.8% Fibonacci extension of BC Leg. Look for entry at point D once you see the trend reversal. Profit Target: As mentioned in the chart. Stop Loss : should be just below X with a support channel. As you can see from the above chart the NIFTY IT ( CNXIT ) has completed the bat pattern and is moving up optimistically We should see the price touch target 1. Since it's on a corrective wave on Elliot's principle Target 1 is most likely to be completed. MACD has crossed the signal line on a weekly timeframe . INFY ( Infosys ) & BSOFT (BirlaSoft) are on the same trend line as the IT index. Disclaimer: “The above is an idea only and not any kind of any financial advice so please do your own DD (Due Diligence) before any kind of investment”. If you like my TA & ideas!! Want to keep yourself updated with current market action, then please follow my profile for more analysis.
NSE:CNXITLong
by Tron029
CNXIT (NIFTY IT) LongBat 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: Ideally point D should represent 127% to 161.8% Fibonacci extension of BC Leg. Look for entry at point D once you see the trend reversal. Profit Target: As mentioned in the chart. Stop Loss : should be just below X with a support channel. As you can see from the above chart the NIFTY IT (CNXIT) has completed the bat pattern and is moving up optimistically We should see the price touch target 1. Since it's on a corrective wave on Elliot's principle Target 1 is most likely to be completed. MACD has crossed the signal line on a weekly timeframe. INFY(Infosys) & BSOFT (BirlaSoft) are on the same trend line as the IT index. Disclaimer: “The above is an idea only and not any kind of any financial advice so please do your own DD (Due Diligence) before any kind of investment”. If you like my TA & ideas!! Want to keep yourself updated with current market action, then please follow my profile for more analysis.
NSE:CNXITLong
by Tron029
Four phases of the stock market What Is a Stock Cycle? A stock cycle is the typical evolution of a stock's price from an early uptrend to price high through to a downtrend and price low. Richard Wyckoff, a prominent trader and pioneer in technical analysis, developed a buy-and-sell stock cycle that occurs over four distinct stages: Accumulation Markup Distribution Markdown How Stock Cycles Work Stock prices may appear random, but there are repeating price cycles that are predominantly driven by the participation of large financial institutions (FI). As a result, following cash flows reasoned to originate from these large players can be identified as occurring in a cyclical manner. The Wyckoff stock cycle has expansion and contraction periods, much like the economic cycle. It can be used for portfolio management allocation, allowing for increased investment during the accumulation and markup phases and profit-taking during the distribution and markdown phases. Investors measure a stock cycle by comparing the distance between lows to help determine where prices are in the current cycle. A trader must have a strategy to take advantage of price action as it is happening. Understanding the four phases of price action can maximize returns because only one of the phases gives the investor optimum profit opportunity in the stock market. Becoming aware of stock cycles and the phases, allows investors to be prepared to profit consistently with less drawdown. The study of stock cycles gives investors a heads-up on trending conditions for a stock, whether sideways, up, or down. This allows them to plan strategies for profit that take advantage of what the price is doing. Understanding the Wyckoff Stock Cycle Phases Accumulation: An uptrend starts with the accumulation phase. This is where institutional investors slowly begin acquiring large positions in a stock. Investors use support and resistance levels to find suitable entry points at this stage of the stock cycle. For instance, investors may start accumulating a security when it nears the lower end of a well-established trading range. Markup: A breakout of the accumulation period starts the markup cycle. Trend and momentum investors make the bulk of their gains during this phase, as a stock's price continues higher. In this part of the stock cycle, traders use indicators, such as moving averages (MA) and trendlines, to help make investment decisions. For example, an investor may buy a stock if it retraces back to its 20-day moving average. Distribution: Institutional investors start unwinding their positions at this stage of the stock cycle. Price action begins to move sideways, as the bulls and bears fight for control. A bearish technical divergence between a stock's price and technical indicator often starts to appear in the distribution phase. For example, a stock's price may make a higher high while the relative strength index (RSI) makes a lower high. Markdown: Volatility often increases during this phase, as investors rush to liquidate their positions. Investors use temporary retracements to the upside as an opportunity to sell their shares, while traders look to open short positions to take advantage of falling prices. Typically, margin calls increase near the conclusion of the markdown cycle, as stock prices near their lows, which may help explain the climactic volume often associated with this part of the stock cycle.
NSE:CNXITShort
by gl_clicks
NIFTY ITHello & 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 hold it would take it down to 35250-34500. Key levels to watch out on both sides 36000-36800 for a trend direction move.
NSE:CNXITLong
by Dinesh_C_Nagpal
1