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WyckoffBull

Weak signs in IT sector

Nifty IT Index (NSE:CNXIT)  
WyckoffBull  
NSE:CNXIT   Nifty IT Index
Trend Analysis Beyond Technical Analysis pattern relativestrength
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trendanalysis beyondta pattern relativestrength
IT sector is showing a huge divergence with respect to NIFTY 500. The relative strength is on a decline but the price is surging up. This seems to be a classic distribution pattern. In the near future we might see slowdown in IT stocks. The price action is also showing a broadning pattern which indicates high voltality in price action.
Time to risk off in IT stocks?
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