CNXIT Poor Run Will Continue !!

Lackluster performance by Indian IT stocks over the last 15 months. A long way to go before things look up again !!

CNXIT will continue the under performance which started in June, much before the Q1 results of IT bigwigs.

CNX IT to Outperform ??

The INR has been weakening against  USD lately, currently trading at  63.72 to a dollar.

A breakout above 63.75 will result in INR weakening rapidly to touch 65-68 in the coming months.

CNX IT has reversed the recent correction and in spite of various concerns about earning forecasts, is likely to outperform the market in the next couple of weeks with a target of 13,400.

CNXIT makes a new High !!!

CNXIT makes a new high of  11,261   at the time of writing this post today and in the process have crossed our target of 11,200 predicted on June 25, 2014 in our post   Is the Worst over for Tech Stocks ??                 

           

Is the Worst over for Tech Stocks ???

CNXIT Closes in on Target 11,200 !!

Update : CNXIT up 260 points at 11,022  at 2.15 pm today.

 

CNXIT has today moved up by 1.88% to 10,965 to move closer to our target of 11,200 predicted by us in our post   Is the Worst Over for Tech Stocks ?    of    June 25,2014 . The CNXIT  had earlier corrected to 9,700 and we had indicated this to be an opportunity to get into IT stocks which are in a long term bull phase. CNXIT has already given a return of 13% in 2 months.