Published on 19/06/2019 2:06:51 PM | Source: HDFC Securities Ltd

BSE ITIndex – CMP 15988 `Positive Momentum `​​​​​​​ - HDFC Securities

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BSE ITIndex – CMP 15988 “Positive Momentum ”  - HDFC Securities

BSE ITIndex – CMP 15988 “Positive Momentum ”​​​​​​​

* The daily chart of “BSE IT index” shows that it has resumed the next rising leg post minor downward retracement.

* Price has been maintaining higher tops and higher bottoms which is a bullish continuation structure .

Price has found support and has turned up from the near term key moving average of 13 Day EMA.

* KST oscillator is continuing with positive momentum and placed with a buy signal.

* In the current rising leg from 15015 levels, all dips are just minor retracements before next rises and this leg could head towards new life highs i.e. above 16300 levels .

* Trade rs can maintain mildly positive stance in IT stocks ; upside target is placed at 16290 with a stoploss of 15623 on closing basis . Stocks to watch: INFY, TCS, HEXAWARE & FSL.


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