- Category: Inter Market Analysis
- Created on 23 December 2016
- Written by Rohit Srivastava
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.