CNX IT Sector - showing signs of trend reversal
Technology stocks have been on my radar since I suggested bullish targets for the Dollar (against the rupee), they have been performing quite well .
In fact I presume they have been out-performing the overall market , with not many people realizing it! (as usual?)
The above chart of CNX IT index is showing signals of completing it's one-and-half year down correction. In fact, though the Index has not yet broken above it's resistance trendline, many individual stocks in the sector have already changed trends toward positive.
The above indicates that the IT sector is likely to continue to outperform the broader market.
Let's all dig out some interesting stocks in this sector !!!
Happy digging !!
CA Rajiv D Khatlawala
3 comments:
Dear Mr. Rajiv Khatlawala,
First of all, I would like to congratulate you about the book "How to profit from technical analysis". It was a very good book and first one for me which I bought the basics of Tech Analysis. I still consult that book to revise my learnings.
With context to the above book, I made a search of your name and came across your blog :The Technical Trader (http://www.technicalcalls-by-rajivkhatlawala.blogspot.com/).
RSS Feeds: I visit that blog regularly and would like to suggest one improvement to your blog. Please introduce the RSS Feeds for your posts so that visitors to your blog can directly read the posted content in your blog on their respective RSS Feed Readers like Google Reader. Whatever you publish in your blog will be available once myself and other readers subscribe to the RSS Feeds of your blog.
You can visit www.feedburner.com to activate RSS Feeds in your blog.
Kind Regards,
--
Mustafaa Imran Ali,
Bangalore, INDIA
Dear Mr Ali
Thanks a lot for your valuable suggestion...
I shall do the needful at the earliest ...
Thanks and best regards
CA Rajiv
Dear Mr. Khatlawala,
Thank You for your prompt reply. Regards.
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