NIFTY IT INDEX 28691 ON 26 Aug 2022

NIFTY IT INDEX: Number of stocks in index is 10. Top 5 are INFOSYS, TCS, TECHMAHINDRA, WIPRO, HCL TECHNOLOGY, which constitute 79% of NIFTYIT INDEX. INDEX P/E IS 26.1, DIVIDEND YIELD IS 2.3%. NOW TECHNOLOGY SECTOR HAS LOWEST RANK AMONG SECTORS BASED ON MARKETCAP WEIGHTED STOCHASICS OF CONSTITUENT COMPANIES. INDEX HAS EARLIER RETRACED 46.5% OF A LARGE UPLEG. AT PRESENT THE INDEX IS AT 37.3% RETRACEMENT LEVEL. IT IS AT 27% LOSS FROM PEAK IN JANUARY 2022.

20DMA 29491, 50DMA 28399, 200DMA 32804, 1000DMA 22621. RSI 45, MACD IN SELL MODE WITH POSITIVE DIVERGENCE.