IT index in a state of distress
IT index is likely to underperform over the next few quarters given the breakdown from a rising trendline as shown in the chart above.
Posts
21600 remains the line in the sand
A break below 21600 in NIFTY can trigger fresh sound of selling or may even lead to further capitulation in stock prices. Failure to hold 21600 can dampen investor sentiment in the near term even as the sell off is still likely to remain a correction within a bull market