Hello & 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.
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.
Commentaire:
Index has failed to hold 36000. If it fails to recover tomorrow/follow through selling the the lower levels are likely to be tested.
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