NIFTY IT INDEX INDICATOR FREE PRICE ACTION ANALYSIS

10 thg 12, 2021

In the above chart, I have presented the NIFTY IT INDEX daily chart. We can clearly observe a bull run beginning from 28000 levels up to 37900 levels. After touching the highs of 37900, the Nifty IT Index has been consolidating in a channel which has a 10% range as indicated. The overall structure is of a Pole and Flag. Any breakout above 37900 levels can lead to a minimum of 10% upmove i.e. up to 42000 levels in short term. This upmove can play a role in Nifty 50 regaining its all time high again.

Suggestion:
Accumulate quality bluechip stocks in Nifty IT Index such as TCS, Infosys, Wipro, etc. at present levels for long term and short term investment.