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% and delivered negative returns since Mar 2015 onwards.
Nifty Realty Sector had made more than 37% gain since 1st March 2016. And now the sector is overheated and facing the resistance around the previous zone 176. Weakness is visible in majority of the Realty sector stocks. Since 1st March 2016 Nifty Realty Sector had made four gaps left unfaded and the very recent gaps are around 162.95 and 159.9.