 "IT hardware, electronics")
NIFTY IT INDEX
Likely target: 37,000
Upside potential: 4%
The Nifty IT index has been moving sideways in the broad range of 37,000 to 34,000 levels since September 2021, according to the daily chart. The recent weakness in the overall market may have dented the positive bias, nevertheless the downside support at 34,000 level, which is also the 100-day moving average (DMA) seem to be holding fort for now. Fresh buying momentum may trigger a sharp reversal back to the 37,000 levels with a build-up of a bullish sentiment. CLICK HERE FOR THE CHART
Likely target: 37,000
Upside potential: 4%
The Nifty IT index has been moving sideways in the broad range of 37,000 to 34,000 levels since September 2021, according to the daily chart. The recent weakness in the overall market may have dented the positive bias, nevertheless the downside support at 34,000 level, which is also the 100-day moving average (DMA) seem to be holding fort for now. Fresh buying momentum may trigger a sharp reversal back to the 37,000 levels with a build-up of a bullish sentiment. CLICK HERE FOR THE CHART
