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MTECHTIPS:-CNX IT
The Technology index witnessed a positive session as the technology index closed the day with small gains indicating strength in the index at lower levels. The technology stocks were range bound but closed the session with positive bias. If the CNXIT manages to break out and sustain above the 6100 levels in coming days we may witness a gradual retesting of 6300 levels in the index in coming sessions. The CNXIT will continue to have strong support at lower levels around 5800 holding above will be positive for the index. But any decline in the index will test the supports of 5740, holding below will open up levels of 5600 and below in coming days. The index is has given a rounding bottom formation, and if it manages to trade above the 6100 levels, we may witness further upside.
The Technology index witnessed a positive session as the technology index closed the day with small gains indicating strength in the index at lower levels. The technology stocks were range bound but closed the session with positive bias. If the CNXIT manages to break out and sustain above the 6100 levels in coming days we may witness a gradual retesting of 6300 levels in the index in coming sessions. The CNXIT will continue to have strong support at lower levels around 5800 holding above will be positive for the index. But any decline in the index will test the supports of 5740, holding below will open up levels of 5600 and below in coming days. The index is has given a rounding bottom formation, and if it manages to trade above the 6100 levels, we may witness further upside.
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