BSE IT index

The IT index maybe starting wave 5 of this move today. Prices are moving up from the lower end of a channel, and the lower band both.Two projections for wave 5 based on either a truncated 5th at 38% of the move so far that goes to 21194 or where 5=3 [since 1 was larger], near 23430. The size in 5th can always be an issue but as long as it lasts this is an out performing sector for now.