CNX IT
CNX IT had a good rally in last month. It made new highs in the year where as other indices are making lows. In the month of July IT index rallied as USD is growing over INR expecting good earnings growth by IT companies.
Now Index looks over bought and may see some correction. RSI, STCH & MACD shows some negative divergence where Index may correct in coming week.
So looks for the stocks like TCS, HCL TECH, WIPRO to go short on appropriate levels with smaller SL for quick gains.
CNX IT had a good rally in last month. It made new highs in the year where as other indices are making lows. In the month of July IT index rallied as USD is growing over INR expecting good earnings growth by IT companies.
Now Index looks over bought and may see some correction. RSI, STCH & MACD shows some negative divergence where Index may correct in coming week.
So looks for the stocks like TCS, HCL TECH, WIPRO to go short on appropriate levels with smaller SL for quick gains.
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