Tech-Finance Synergy Could Boost Nifty This Week!

15 Sep

Nifty It CNXIT

• The IT index has been in a consolidation phase for an extended duration and developed a Cup & Handle pattern.
  
• After breaking out, the index has effectively retested the breakout level and is now on an upward trajectory.
  
• In the past week, the index gained approximately 3% and is showing robust strength, with expectations for further upward movement.
  

Nifty Private Bank NIFTYPVTBANK

• The Private Bank index is currently experiencing a positive upward trend.
  
• It previously established a Cup & Handle pattern, and following a breakout, the index saw substantial gains, consistently recording higher highs and lows.
  
• After hitting an all-time high near the 26,650 level, the Private Bank index retraced to its immediate support zone and is now rising once more.
  
• With a significant increase of almost 2.7% last week, the index seems to be in a bullish phase at present.