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| Discuss Trading in IT Index? at the Derivatives within the Traderji.com - Discussion forum for Stocks Commodities & Forex; I have come across several Technical people recommending trading in Nifty futures. Considering India's strength ... |
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#1
26th October 2004, 08:44 AM
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Trading in IT Index?
I have come across several Technical people recommending trading in Nifty futures. Considering India's strength in IT and the recent results declared by infosys, Wipro and TCS, why doesn't anybody recommend IT Index or CNx IT or whatever it is called?
Last edited by sh50; 31st January 2005 at 07:57 PM. 
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#2
26th October 2004, 10:11 AM
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Re: Trading in IT Index?
The CNX IT index is a proxy for the IT sector in India. So anybody wanting to take a call on the IT industry in India should be trading the CNX IT Index.
Volumes while not so good in earlier has improved considerably lately.
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#3
28th October 2004, 01:14 PM
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Re: Trading in IT Index?
I think the IT index is more volatile than the NIFTY index as it is focussed on just one sector whereas the latter is more broadbased.To that extent it is more likely to give whipsaws if you attempt longer term position trading but would be more beneficial if you were to daytrade.NIFTY gives a perception of smooth and slow movement and therefore less risky to trade.
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#4
28th October 2004, 03:24 PM
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Re: Trading in IT Index?
Quote:
I have switched to trading the NIfty and am very happy. Lately I am paying a lot more attention to the CNX IT index. Infact I went long a couple of days back and it has worked out well.
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#5
6th March 2005, 12:45 PM
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Re: Trading in IT Index?
Dear sh50,
I want to know weightages given to IT scripts to derive CNX IT. Then it wii be convinient for me to trade CNX IT. Waiting for your valuable reply.
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#6
6th March 2005, 02:45 PM
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Re: Trading in IT Index?
" Aapki bhavnaon ko thes nahin pahuchana chahta, bhavnaji" but the fact is that I don't trade indices. I was just curious to know why it was given the step brotherly treatment vis-a-vis the nifty.
Perhaps traderji or some other senior member will reply or you will probably get your answer at www.nseindia.com
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#7
6th March 2005, 03:37 PM
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Re: Trading in IT Index?
composition of CNX IT
sr Symbol ----- Weightages (%) 1 CMC -------- 0.45 2 GTL -------- 0.35 3 HCL-INSYS ---1.19 4 HCLTECH --- 4.8 5 HEXAWARE -- 0.78 6 HTMT ------- 0.54 7 HUGHESSOFT- 0.79 8 I-FLEX ------- 2.08 9 IGS ---------- 0.35 10 INFOSYSTCH-- 26.36 11 MASTEK ------- 0.23 12 MOSERBAER------ 1.16 13 MPHASISBFL------ 0.82 14 PATNI -------- 2.04 15 POLARIS ------- 0.56 16 ROLTA ----------- 0.24 17 SATYAMCOMP---- 5.62 18 TATAELXSI ----- 0.25 19 TCS ------------- 29.25 20 WIPRO -------- 22.15 --------------------------------- ------------------ 100.00 -------------------------------- hcl tech,infosys,tcs,wipro,satyam---contributes 88.18%
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#8
6th March 2005, 03:42 PM
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Re: Trading in IT Index?
Dear sh50 and sachin,
Thank you very much.
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#9
24th March 2005, 06:43 AM
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Re: Trading in IT Index?
The CNX IT Index has just given a short sell signal. (see attached chart)
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#10
29th March 2005, 12:37 PM
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Re: Trading in IT Index?
hi,
we hope the sansex going to7000 points in next few month. invest in TCS, wipro.infosys.
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