With both Nifty
NIFTY
and Nifty IT
CNXIT
indices looking weak, more pain seems to be on the way in certain stocks.
Many IT stocks appear to have formed an intermediate top today.
I can see that Mindtree NSE:MINDTREE has formed an Evening Star pattern with a large Bearish candle today.
Good opportunity to go short with a small stop loss for a first target of 902.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NIFTY
and Nifty IT
CNXIT
indices looking weak, more pain seems to be on the way in certain stocks. Many IT stocks appear to have formed an intermediate top today.
I can see that Mindtree NSE:MINDTREE has formed an Evening Star pattern with a large Bearish candle today.
Good opportunity to go short with a small stop loss for a first target of 902.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.