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Nifty IT Index, Technical Outlook

Nifty IT Index (NSE:CNXIT)  
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NSE:CNXIT   Nifty IT Index
Trend Analysis Chart Patterns Technical Indicators itsector itindex niftyit indextrading indexsignals indicatorstrategy Moving Averages
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trendanalysis chartpattern indicator itsector itindex niftyit indextrading indexsignals indicatorstrategy movingaverage
Now we have a strong breakdown of the compression zone.
The structure indicates the start of a downtrend.
The price could test the levels of 30,054 (Strong Support) which is 5-to-6% from the current level. On the up side the level of 35,188 will act as a strong resistance.

Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.

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