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NASDAQ up 7%, It’s Time for the Nifty IT Index 📈

Nasdaq (NDX) rallied over 7% in yesterday’s session on the back of the short-covering rally.

Do you remember when did Nasdaq rallied over 7% last time?

It’s a rare scenario but are we repeating the V-shape reversal like in 2020?

Post the pandemic fall, the V-shape reversal in global markets lead to a 7+% rally in the index on 24th March 2020 and 6th April 2020.

If you remember, I have recorded a video indicating the Wyckoff bottoming formation in NDX and the Last Point of Support (LPS) is in place for the index. Watch here

The moves are exactly as the textbook pattern and if we go as per the pattern, the bottom is in place for the next few months.

Indian investors, it’s time to focus on an underperforming index - IT Index

The bulls are ready with an open and low nearly same on IT index yesterday.

You can’t keep Infy, TCS, TechM & HCL Tech underperforming for a long-time if you want Nifty to rally higher.

Are you ready?

#Nasdaq
#ITindex
#KeepItSimple
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Nasdaq - The Momentum Breakout

The US IT Index- Nasdaq is witnessing the come back from the bearish momentum and confirming the reversal in yesterday's session.

The Spring, the lowest point and the bottom as per Wyckoff pattern is held strong in the last two LPS (Last Point of Support) indicates the bulls are ready to accelerate northwards momentum.

Dow Theory supports bullish reversal as index is forming higher high- higher low pattern.

Index has convincingly broken above the previous two highs strengthening the bullish trend.

As index enters the Phase-D of accumulation zone as per Wyckoff theory, the momentum may accelerate in next 2-4 weeks.

The bullish Nasdaq have positive impact on Indian IT Index.

#Nasdaq
#KeepItSimple
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