Nifty IT index
15 Apr 2021 ● 03:40 AM
Nobody saw it coming but the weekly momentum on the IT index was indicating negative divergences. Now that is not always a top but it definitely slows down the speed of the rise. So smaller rallies and corrections follow. Once the Nifty IT index breaks 25142, the 20-week average, it may drift to 22581, the lower end of the range, later momentum may go negative before we get a bottom again. Patience is needed for the cycle to play out in momentum.