NIFTYIT @ 42060 WAVE UPDATE
Current wave formation showing that NIFTIT has completed wave 3rd of 3rd at recent high of 43750 and now its in middle of wave 4th of 3rd which is completed or about to complete soon in next couple of days.
Downside now 41400-41000 are crucial support to watch whereas 38500 should act as trend reversal support.
As long as NIFTYIT is trading above 41400—41000 larger trend remains bullish for upside minimum 48335 to 49940 spot levels.
Once it moves above 43750 which is recent ATH we may see some upside trigger in the IT pack.
Fresh weakness starts if it breaks 41400—41000 on daily closing basis.
Current wave formation showing that NIFTIT has completed wave 3rd of 3rd at recent high of 43750 and now its in middle of wave 4th of 3rd which is completed or about to complete soon in next couple of days.
Downside now 41400-41000 are crucial support to watch whereas 38500 should act as trend reversal support.
As long as NIFTYIT is trading above 41400—41000 larger trend remains bullish for upside minimum 48335 to 49940 spot levels.
Once it moves above 43750 which is recent ATH we may see some upside trigger in the IT pack.
Fresh weakness starts if it breaks 41400—41000 on daily closing basis.
