CNX NIFTY IT

Nifty IT, looks like it has completed wave 3rd of bigger degree wave 5th, now it could started steps towards wave 4 as corrective,
as per sector views it stocks could show little bearishness as per index predictions.

Wave structure
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Macd in daily time frame Negative crossover
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Rsi downtick in daily time frame
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trendline breakdown in hourly time frame
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adx dmi conversion towards negative in daily time frame
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adx dmi negative in hourly time frame
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rsi down tick in hourly time frame
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macd in hourly negative along with down tick and now below zero line
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Disclaimer
I am not sebi registered analyst.
My studies are for educational purpose only.
Consult your financial advisor before trading or investing.
Chart PatternsCNXITcnxitshortTechnical IndicatorsniftyitniftyitshortTrend Analysis

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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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