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MTECHTIPS:-CNX IT
The Technology index witnessed another volatile range bound session as the index sustained around the 5800 levels and failed to take any direction. Some support was seen at lower levels around the crucial 5800 levels. We expect a negative opening in the index and key technology counters may remain under pressure. The CNXIT will continue to have strong support at lower levels around 5750 holding above will open up the levels of 6000 soon. But any decline in the index will test the supports of 5600, holding below will open up levels of 5400 and below in coming days. The index is under pressure and if it manages to close below the 5600 levels we expect the index to test 5250 levels gradually. Bottom fishing should be avoided at current levels.
The Technology index witnessed another volatile range bound session as the index sustained around the 5800 levels and failed to take any direction. Some support was seen at lower levels around the crucial 5800 levels. We expect a negative opening in the index and key technology counters may remain under pressure. The CNXIT will continue to have strong support at lower levels around 5750 holding above will open up the levels of 6000 soon. But any decline in the index will test the supports of 5600, holding below will open up levels of 5400 and below in coming days. The index is under pressure and if it manages to close below the 5600 levels we expect the index to test 5250 levels gradually. Bottom fishing should be avoided at current levels.
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