whose movement shows the way to CNXIT index .
Fundamentally nothing much changed on paper about valuations etc IT bound to
face margin pressures as spending has reduced drastically.
Old saying Market discounts things in advance..
ELLIOT wave analysis on three biggies show that the three are moving in unison
and probably trading in fourth wave,Which suggest buying in dips is a wise choice
still some time before Traders think of taking positional short trades.
The above charts show the similarity between the big three's wave structure.
So as far as IT is considered its a buy in dips till something drastic happens,
Though the buy need to be timed so that we get the stock near 4th wave end,
A good Option trade too possible here buying immediate out of money call near
4th wave end:).
See what research houses say about IT Sector
India IT Services (GOLDMAN SACHS)
So till next post try to trade them accordingly will try updating if things go other way.
Regards
Rish
RESEARCH REPORTS
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