IT Sector Analysis – K Karthik Raja Rupeedesk Share Market Training- 01.03.2025
IT Sector Analysis – K Karthik Raja Rupeedesk Share Market Training- 01.03.2025
IT Sector Analysis – K Karthik Raja Rupeedesk Share Market Training- 01.03.2025
NIFTY IT Market Sector Analysis
By K Karthik Raja
Key Factors Affecting & Reasons:
- NIFTY IT saw a sharp decline of 7.96%, closing at 37,318.30.
- RSI at 36.45 indicates nearing oversold territory.
- ADX at 21.46 suggests a weakening trend strength.
- Global tech sector trends, IT spending, and macroeconomic factors influencing movement.
Key Watch:
- Support Levels: 37,000, 33,573 (200-day MA), 25,081 (390-day MA).
- Resistance Levels: 39,625 (50-day MA), 40,000 psychological level.
- A bounce from support levels could signal trend reversal.
Volume Analysis:
- 139.12M volume shows high participation during the decline.
- Further selling pressure could lead to deeper correction if key levels break.
Dow Theory Chart Analysis & Observations:
- Long-term bullish structure still intact despite the correction.
- Breakdown below 37,000 could lead to further downside.
- Watch for a higher low formation to confirm trend reversal.
Stocks to Watch:
- Major IT players like TCS, Infosys, and Wipro for signs of recovery.
- Mid-cap IT stocks may show sharper corrections but offer potential bounce opportunities.
Market Insights:
Short-Term View:
- Weakness persists with downside risk.
- A break below 37,000 may trigger further selling.
Long-Term View:
- Long-term trend remains positive if major supports hold.
- IT sector may see accumulation opportunities around 33,000-35,000 levels.
Strategy:
- Traders: Look for signs of reversal before entering long positions.
- Investors: Accumulate gradually on dips for long-term gains.
Disclaimer: This is for educational purposes only and not financial advice. Please do your own research before making investment decisions.
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