Nifty IT Sector Update (as on 16th March, 2024)
(Our view is based on a Weekly and Monthly Time Frame only)
- Since Mid of December, 2023; the Sector has been showing good strong consistent moves
- Price action clearly shows a buildup back to the resistance
- The Weekly Resistance & Support Levels were respected the last 3 months
- Right now, we are at the Support and if the market sustains we should look at another upmove in some good fundamentally strong stocks
- My Focus will be on the following IT Stocks:
✓ Large Cap - TCS / WIPRO / INFY
✓ Mid Cap - PERSISTENT
✓ Small Cap - CIGNITI