🔍 Pay heed to the Nifty IT index—it's at a pivotal and crucial support zone. Here's why:
💡 Support Level: 31,500—A formidable support base.
🔒 RSI 40 Support: RSI reaffirms this level's strength.
📈 Uptrend Line: Supported by a steadfast uptrend line.
📊 50 DSMA Nearby: The 50-day simple moving average sits close at 31,380.
🚀 All signs align for a potential bounce-back!
📈 However, keep an eye on the 10-year yield—it peaked before the 2008 market crash. High yields can impact tech stocks.
💡 Stay informed and vigilant in these dynamic markets!
