Nifty IT Index
Long

Rounding bottom pattern almost complete in Nifty IT Sector

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Nifty IT sector has almost completed the rounding bottom pattern. This consolidation phase was more than 2 years long. Thus, the probability of a sustainable breakout is high. I will look to go long in IT sector leaders via call options/ cash buys. What about you all?

PS: Typical targets are the depth of the rounding bottom pattern which is 29%. This can be achieved by the end of the year.

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