-Nifty IT along with BN is supporting Nifty. -IT sector shows resilience in this market fall. - Positivity in US market (NASDAQ) - Easy to get in and out. Good liquidity.
What could go wrong? - Overall bearish sentiments in our market. If NIFTY were to fall further, IT would follow suit. - Dependent on NASDAQ move, so pay close attention to US markets.
Overall this is a low-risk setup. Risk is only 6.5-7%. Build positions sensibly. Risk management is key. Do not put all your money at once. And respect the SL. Building this position early because if we were to get a reversal soon then the rewards will be good. If the reversal is not sustained then our risk is still less.
This is just a view and chart shared for educational purposes only.