We also call IT Bees Nifty IT ETF. India’s best IT company comes in this asset. However, this ETF has not been able to give a big return for a long time.
However, according to the pattern that is being formed in IT Bees at present, it is ready to increase its current price by 3% by the last April 2024.
IT Bees has been falling for a long time?
If we talk about IT Bees, this ETF comes in very volatile ETFs. We keep seeing a lot of ups and downs in this.
But for a long time, the price of this ETF has either fallen or consolidated, but till now we are not able to see a rise in this price.
IT Bees price movement
If we talk about the price of IT Bees, at present it is running at 37.22 INR.
If we talk about the 52-week low of IT Bees then it is 27.56 INR and if we talk about its 52 week high then it is 41.56 INR.
At present the price of its lower circuit is Rs 30.53 and the price of upper circuit is Rs 45.80.
Why is this ETF not growing?
As we talked about IT Bees has been falling or consolidating for some time now, it is not increasing.
The reason behind its not growing is America’s Nasdaq Index. If we talk about India’s IT market, it is largely dependent on America’s market.
You can see the movements of the American market through the Nasdaq Index and if you want to invest money in the American market from here, then you can do this through the Nasdaq ETF.
If you see from the second week of March, the growth that should come in is not happening, which is why India’s IT market is also not able to grow.
We know that investing money in Nifty IT ETF means that you are investing in India’s IT sector.
Due to inability of India’s IT market to grow, there is no growth in IT Bees or IT ETF.
When will there be growth in IT Bees or IT ETF?
Growth in IT Bees or IT ETF will come only when America’s Nasdaq index does well. We hope that by the end of March 2024, the IT Bees can give you a growth of up to 3% according to our research.
Why can it give 3% growth?
See, in ETF we estimate its movement by using only one indicator. The name of this indicator is RSI Indicator whose full form is Relative Strength Index.
With the help of this indicator, we can find out how weak this point has become and how strong it has become.
We apply this indicator on 1 1-hour time frame and if its RSI is seen at 40 then we guess that this ETF has become weak and investors will invest money in it and it will grow from here.
If we look at the RSI indicator on IT Bees in the 1-hour time frame, its reading is around 33.
This means that the time for growth of this ETF has now come. From here, IT Bees can give a growth of about 3% by the end of March.
What should a long-term IT Bees investor do?
If you have made a long term investment in IT and are also willing to SIP in it occasionally. So we would recommend that you do the SIP in this ETF now.
This will significantly increase your long-term expected returns.
Is it the right time to do swing trading in IT Bees?
If you want to do swing trading in IT Bees then this is a very favorable time for that as its RSI is currently at 33.
From here this ETF can rise by 3 to 4% and you can earn a good profit by doing swing trading.
Conclusion
If we conclude this article then we get these points.
- IT Bees has been falling and consolidating for a long time.
- Investors are still waiting for IT Bees to be lifted.
- From the RSI indicator strategy, we come to know that this ETF is now absolutely ready for growth from here.
- If you make long-term investments then this is a very favorable time to do SIP in IT Bees.
- If you do swing trading then you can get good profits by investing in it at this time.