Wipro, HCL Tech, Tech Mahindra: Look at these key levels before investing

Though the Nifty IT index is currently trading above the trendline resistance of 15,010 and the 100-DMA of 14,884, only a strong close with subsequent follow-up buying can lead to a strong breakout.

NIFTY IT Index: As per the daily chart, NiftyIT index is showing consolidation in the range of 15,010 – 13,800 on a closing basis. The 100-days moving average (DMA) is currently placed at 14,884 lavels. The index has support at its 200-days moving average (DMA), currently located at 14,460 levels. 

Though the index is currently trading above the trendline resistance of 15,010 and the 100-DMA of 14,884, only a strong close with subsequent follow-up buying can lead to a stronger breakout, which can see the index close in on the 15,700 and 15,900 levels, chart suggests. CLICK HERE