Free NIFTY IT (CNXIT) Technical Analysis Signals

Overal Signal
Sell
Signals
Sell Neutral Neutral Sell
Last Update / Period
19 Nov / Daily
Category/Currency
Indexes/INR
Exchange/Country
NSI/--

NIFTY IT (CNXIT) signal with technical analysis on 19 Nov

On 19 Nov, we conducted a comprehensive technical analysis of NIFTY IT (CNXIT), considering 256 signals with intricate details. Here are the key findings: 45 signals suggested buy strategies, while 122 indicated sell strategies. The remaining 89 signals remained neutral without offering a specific direction.
The 256 signals were categorized into four distinct strategies, each consisting of 64 signals. Let's dive into the details of each strategy:

Strategy 1:
Buy Signals: 5
Sell Signals: 41
Neutral Signals: 18
Result: This strategy leads to a Sell position.

Strategy 2:
Buy Signals: 16
Sell Signals: 24
Neutral Signals: 24
Result: This strategy leads to a Neutral position.

Strategy 3:
Buy Signals: 18
Sell Signals: 25
Neutral Signals: 21
Result: This strategy leads to a Neutral position.

Strategy 4:
Buy Signals: 6
Sell Signals: 32
Neutral Signals: 26
Result: This strategy leads to a Sell position.

Overall Strategy:
Buy Signals: 45
Sell Signals: 122
Neutral Signals: 89
Result: This strategy leads to a Sell position.

Disclaimer! Please exercise caution and thorough consideration before making any financial decisions. It's important to note that our signals are based solely on daily price changes and do not take into account external factors such as news, market sentiment, or company developments. We strongly recommend considering all relevant factors and conducting your own research.

Useful Tips: To make the most informed decisions about your NIFTY IT (CNXIT) investments, we highly recommend visiting the "Magic Prediction" AI models signals website. They provide free signals, and if one aligns with ours, it is likely to be a reliable indicator, as we have observed over time.


Result: Looking at the technical analysis for NIFTY IT (CNXIT) on , there is a tendency towards a sell signal based on historical data and analysis. However, it’s crucial to remember that these signals are not guarantees. Make sure to carefully consider overall market conditions and align your decisions with your specific investment goals.

Based on the above signals and forecasts, we recommend the following strategies:
NIFTY IT (CNXIT) trading strategy for those in buy positions (long positions): If you are currently in a buy (long) position, it is advisable to identify the optimal time to exit your position based on a combination of technical signals. Those with a high risk tolerance may choose to wait and observe market movements over the next few days.
NIFTY IT (CNXIT) trading strategy for those in sell positions (short positions): If you are in a sell (short) position, holding your position may be the right strategy, as indicated by the consensus of our technical analysis. However, be cautious and monitor market developments closely.
For new positions: If you are not currently invested or considering switching to a sell (short) position, it’s recommended to assess the potential downside of 23.96% based on the lowest expected price range. Ensure that this aligns with your risk tolerance and objectives by conducting thorough research before entering a short position.

In all trading scenarios, a well-defined stop-loss strategy is critical to managing potential downside risks effectively.

Useful Tip: For long-term forecasting, we recommend using the "Predict-price" website, which offers both short-term and long-term predictions at no cost. This resource can support informed decision-making regarding your **NIFTY IT (CNXIT)** investments.

NIFTY IT (CNXIT) Price Analysis and Support Levels:

In our current NIFTY IT (CNXIT) position, we find ourselves in a short position, anticipating a potential downward trend. Understanding the key support levels is essential, as these serve as critical reference points for traders and investors to make informed decisions.

First Support Level: 38516.551
We are closely monitoring the price at 38516.551, the first support level. If the downward trend continues, breaching this level would signal strong selling pressure, suggesting the possibility of further price depreciation.

Second Support Level: 33402.75
If the first support level is broken, the second support level at 33402.75 becomes crucial. A break here would indicate stronger downward momentum, likely driven by market sentiment or external factors.

Third Support Level: 31320.15
If the second support level is broken and the price continues to decline, this signals a significant market shift. Staying below 31320.15 would confirm a persistent downward trend, with traders likely targeting this third level as the next support point.
These support levels should be carefully considered within the context of broader market trends and indicators. By staying alert and consistently analyzing the market, you can make well-informed decisions while trading NIFTY IT (CNXIT). Keeping these support levels in mind will help you adapt to the dynamic nature of the market and make smarter trading choices.

NIFTY IT (CNXIT) technical analysis chart

NIFTY IT (CNXIT) support and resistance levels

Name Level1 Level2 Level3 Level4 Level5
Resistance -- -- -- -- --
Support 38516.551 33402.75 31320.15 30054.199 --
 NIFTY IT (CNXIT) Support and Resistance area (19 Nov)

NIFTY IT (CNXIT) signals list for 19 Nov

Overall Signals
Signal 1 Signal 2
Signal 3 Signal 4

NIFTY IT (CNXIT) candlestick patterns on 19 Nov

Today's NIFTY IT (CNXIT) Candle Patterns List:

Belt-hold Engulfing Pattern

NIFTY IT (CNXIT) technical analysis over the past days

# Date Overal Signals ALL Signals
1 18 Nov Sell SellNeutralNeutralSell
2 14 Nov Hold NeutralHoldHoldNeutral
3 13 Nov Buy HoldHoldHoldBuy
4 12 Nov Hold HoldHoldHoldNeutral
5 11 Nov Buy HoldHoldBuyNeutral
6 08 Nov Buy HoldBuyNeutralHold
7 07 Nov Sell HoldNeutralSellSell
8 06 Nov Buy BuyNeutralNeutralNeutral
9 05 Nov Hold HoldHoldHoldHold
10 04 Nov Hold HoldHoldHoldHold
11 01 Nov Hold HoldHoldHoldHold
12 31 Oct Hold HoldHoldHoldHold
13 30 Oct Hold HoldHoldHoldHold
14 29 Oct Sell SellSellHoldSell
15 28 Oct Hold NeutralNeutralHoldNeutral
16 25 Oct Sell NeutralHoldHoldHold
17 24 Oct Sell NeutralHoldSellHold
18 23 Oct Hold NeutralHoldNeutralHold
19 22 Oct Hold HoldHoldHoldHold
20 21 Oct Sell HoldHoldHoldSell
21 18 Oct Sell SellSellSellNeutral
22 17 Oct Buy BuyBuyBuyBuy
23 16 Oct Sell SellSellNeutralNeutral
24 15 Oct Hold HoldHoldHoldNeutral
25 14 Oct Buy BuyHoldBuyBuy
26 11 Oct Hold NeutralNeutralNeutralNeutral
27 10 Oct Sell NeutralSellSellNeutral
28 09 Oct Buy HoldBuyNeutralNeutral
29 08 Oct Buy BuyNeutralNeutralNeutral
30 07 Oct Hold NeutralNeutralNeutralNeutral

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