Tuesday, 4 September 2012

MTECHTIPS

MTECHTIPS:-CNX IT

The Technology index witnessed a positive trading session, the index traded in a small range and then it managed again to hold on to the supports. Sustained support around 6040 levels is seen in the index. Some recovery was seen in the final hours but the index closed with losses for the session.  The levels around  6040 will  act as strong support zones for the index,  and if these levels are broken we may soon witness the index testing  5950 levels also. The CNXIT  if manages to  break out  and sustain above the  6200 levels we may witness some pull back testing the levels of 6300 in coming days, but stiff resistance is seen at current levels. And the outlook remains positive for the day.

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