NIFTY IT facing Multiple resistances . But should take out them soon if able to cross the Multiple resistance converging. Earlier Retraced from 61.8% fibonacci levels 1. Kumo Resistance 2. Facing Resistance at Upper band of Falling Channel . 3. Facing stiff Resistance at 200 week MA . 4. Facing a supply at 38.2% Fibonacci .
Pros : 1. Kumo Twist. 2. Too much Bearishness sign of a Bullishness. 3. Strong accumlation in IT stocks . From Nov 2016 to present Month .