CNX IT Daily Sentiment
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 bearishness.
CNX IT Weekly Sentiment
CNX IT has left two professional gap zones on the daily chart one at 9254 on 6th June 2014 and the another at 10103 on 22nd June 2014. Current Weekly negative Sentiment could target first professional gaps zone at 10103 in the medium run.
Related Readings and Observations
Nifty IT – Stretched Valuations – Investors Caution Zone Listen, IT is the hottest sector when USDINR is hitting the all-time high. pharmaceutical and information technology are the sectors which earn a big part of their revenues in dollars. […]
6 Reasons Why Nifty Pharma Will Make 50% upside from here. Nifty Pharma one the most hated sector in this bull market for a variety of reasons. The number one reason is negative returns since Apr 2015. Till now index had lost a maximum of 42.28% […]
Nifty Smallcap – Bullish Island Reversal Pattern to be Revisited? Nifty Smallcap index formed a classical bullish island reversal pattern during last week of March 2018 since then price mean reverted back to 200 Moving Average on the daily charts. Last […]
Nifty IT Sector Outlook Mar 2017 Nifty IT sector is showing signs of short term trend exhaustion and high probabilities are there that trend reversal could be in progress. Nifty IT delivered a YTD performance of of 3.6% […]
Is the Nifty IT Sector OverValued? Nifty IT (Previously CNX IT) hit is bear market low at 1992.8 on 6th March 2009 since then its journey towards the upside move had generated more than 5.5x returns in the last 6 years. But […]
RRG Study : Indian Stock Sectors Under Trouble? Bank Nifty shows a considerable strength in the current fall of CNX Nifty. Compared to other sectors the relative strength in Bank Nifty is far better. However most of the sectors shows a […]
Leave a Reply