Since past 4 quarters, IT index slightly moved up after end of quarter and before publishing quarterly results. (Vertical lines indicate end of quarter). Then corrected on the back of bad results by IT majors. But from Jan, 1, we r continuously seeing selling in IT index. This seems to be a trap by big players. Also IT index took support from previous support levels on daily timeframe. I am expecting good results and upside continuation in IT index.
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Boom.... IT index up 5% today with IT majors up 4 to 7%