NIFTY IT INDEX LOOKS TO HAVE STARTED ITS UPTREND

16 Haz

Nifty IT Index is turning up into a possible Bull trend. The index has made its first higher-high and simultaneously its momentum (RSI) too has crossed up into its bull zone, above 60, both for the first time since Feb 2024. its relative performance to CNX 500 is still -ve though. After the breakout price has been consolidating within the 7th June bull bar. A breakout above 35250 can see the IT index rallying up. Looks good time to focus on quality IT stocks.

Only personal analysis. No recommendation. Please consult your financial advisor for any investment or trading related decision.