Bullish on IT sector: Mitesh Thacker
We have not triggered any kind of an up move but it is the CNX IT, CNX Pharma which is clearly showing strength, that is where traders need to focus upon.
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| Updated: In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on markets.
ET Now: What is it that you are seeing on the charts for the index as also stocks?
Mitesh Thacker: Nothing much on the index it still remains sideways and we have not got beyond 7540-7550. We have not triggered any kind of an up move but it is the CNX IT, CNX Pharma which is clearly showing strength, that is where traders need to focus upon, that is where possibly good kind of money can be made. Assuming that 7480 as the base straight, this could be a good risk reward equation.
If Nifty were to start moving above or towards the higher end of the range then you might made good money and this time the leadership could be possibly coming in from CNX IT. So we have been recommending CNX IT and IT stocks.
ET Now: What is it that you are seeing on the charts for the index as also stocks?
Mitesh Thacker: Nothing much on the index it still remains sideways and we have not got beyond 7540-7550. We have not triggered any kind of an up move but it is the CNX IT, CNX Pharma which is clearly showing strength, that is where traders need to focus upon, that is where possibly good kind of money can be made. Assuming that 7480 as the base straight, this could be a good risk reward equation.
If Nifty were to start moving above or towards the higher end of the range then you might made good money and this time the leadership could be possibly coming in from CNX IT. So we have been recommending CNX IT and IT stocks.
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