CNX NIFTY IT

Nifty IT, looks like it has completed wave 3rd of bigger degree wave 5th, now it could started steps towards wave 4 as corrective,
as per sector views it stocks could show little bearishness as per index predictions.

Wave structure

Macd in daily time frame Negative crossover

Rsi downtick in daily time frame

trendline breakdown in hourly time frame

adx dmi conversion towards negative in daily time frame

adx dmi negative in hourly time frame

rsi down tick in hourly time frame

macd in hourly negative along with down tick and now below zero line


Disclaimer
I am not sebi registered analyst.
My studies are for educational purpose only.
Consult your financial advisor before trading or investing.