Wednesday, November 05, 2008

>CNXIT Analysis

CNXIT the IT Index,Did not show much appreciation as compared to other indices.
This financial turmoil made sure that IT growth remains capped,Though INR(Indian rs)
weakness gave some hope to IT sector,But in short term this weakness of INR will
not benefit the sector as a whole because most are hedged .

Technically,

IT index looks to be in C wave with corresponding corrective up underway which
looks like has come to an end ,And looks set to make a new low.

If you holding front line IT stocks make sure you have trailing stoploss in place
never loose your profit.
Conservative target for CNXIT could be near to 2000.
Comments welcome.

Regards
Rish

1 comments:

Achin Jain said...

nice timing ... when Obama won who is anti-offshoring :)

Post a Comment