CNX IT index shows major support at 5800. Connecting 6185 & 5966, we get the following Fibonacci extension levels and it is also shown in the chart
23.6% - 5914
38.2% - 5882
50% - 5857
61.8% - 5831
78.6% - 5794
Immediate support therefore is seen near 5900 levels with 23.6% extension level
From the above chart details we can clearly see MACD line converging and it may show a negative trend with more correction expected. CNX IT index has first level support around 5900 & next around 5800 level
For Jun 26th '12 CNX IT has immediate support around 5950 with resistance around 6020 to 6030 levels
With index pointing downwards, be stock specific and look for going long
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