Nifty IT is following the textbook EW pattern. We are at the beginning of a fresh impulse of the last cycle wave 5. This wave should take us to all time highs.
On smaller time frame we have already finished wave 1 of 5; obviously the next impulse (w3) would be much sharper.
Index is susceptible to political news from US, so adhere to proper RM.
Kommentar
⋅
CNXIT has had an irregular correction to finish W2 and is now ready to rally into W3. The momentum should only get stronger in days to come.