PL Technical Research: TECHNICAL VIEW : NIFTY IT

Nifty IT cmp: 29920, after a short correction from resistance level of 31600 zone, has retraced 0.38% and has reversed from near the 50 EMA level of 29450 zone and has slightly improved the bias. One can expect a new round of momentum in its stocks, with 200 DMA of 29150 as the stoploss for all long positions with an upside target of 31000–31500 levels.. Stocks like INFY, TCS, LTIMINDTREE, BSOFT, PERSISTENT, COFORGE and HCL TECH.