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MTECHTIPS:- CNX IT
The Technology index gained in yesterday’s session as the investors looked for going long in the sector on weaker rupee. The optimism in the technology stocks was attributed to the sustained weakness in the rupee which fell to new lows yesterday. If the index manages to hold above the 6150 levels we may witness new rally in these counters. The technology index may witness more upside till 6240 levels in coming days. But the index will find it difficult to sustain above these levels and profit taking may be seen at higher levels. Immediate supports are seen below 6040 levels, if the CNXIT slips below these levels we may soon witness retesting of 5800 levels in the index soon.
The Technology index gained in yesterday’s session as the investors looked for going long in the sector on weaker rupee. The optimism in the technology stocks was attributed to the sustained weakness in the rupee which fell to new lows yesterday. If the index manages to hold above the 6150 levels we may witness new rally in these counters. The technology index may witness more upside till 6240 levels in coming days. But the index will find it difficult to sustain above these levels and profit taking may be seen at higher levels. Immediate supports are seen below 6040 levels, if the CNXIT slips below these levels we may soon witness retesting of 5800 levels in the index soon.
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