IndiaCharts

CNX IT

The CNX IT index faced strong resistance at the 20 week average. Most stocks did something similar. Also Infosys was at 61.8% of the previous fall. So the IT index shows wave 3 down may have started here. Momentum rolled over and the previous swing high at 10500 is a major resistance. 3=1 for the index is down to 8337.

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