IT sector Range Bound
Interesting to see IT index in range from june till now in November.
IF 30300 is taken out on the upside, then there will be a good confirmation that it was an Accumulation phase in the market,
IF 26200 is taken out in the downside, expect the next set of SELLING in this sector. And a confirmation that it was in a distribution phase, since the market is near Life highs, This phase can be ruled out.
Till then expect a slow steady move in this index.
Range 26200 to 30300
IF 30300 is taken out on the upside, then there will be a good confirmation that it was an Accumulation phase in the market,
IF 26200 is taken out in the downside, expect the next set of SELLING in this sector. And a confirmation that it was in a distribution phase, since the market is near Life highs, This phase can be ruled out.
Till then expect a slow steady move in this index.
Range 26200 to 30300
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