Since the vaccine news has been out IT has been a laggard and corrected quite a bit.. I guess the WFH (Work From Home) narrative took a backseat

But on the hourly charts it looks like it's setting up again for a breakout and a run to new highs

Here's the IT Index.. Nice looking symmetrical triangle jus waiting to breakout

Here's HCL Tech with a perfect little falling wedge on the hourly

It retested the lower TL again today and formed a nice morning star reversal right at support

Disclaimer : Long via call options

Infosys looking pretty good as well.. Again a nice looking symmetrical triangle on the hourly

And Tech Mahindra with what looks like a nice Cup & Handle in thr making

Breakouts for the IT Index and all the 3 shares mentioned would target new ATH's and that's always a good thing

If you're looking to trade current month call options then look to enter NTM options as expiry is only 6 trading days away

If we don't get breakouts this week then next week we could look to enter OTM calls for the Dec series as and when the breakouts happen

Hope you guys enjoyed this thread.. As you all know I only trade options now and I look for setups like this on the hourly charts for good R:R entries

There were some really good setups this month on the hourly charts which gave big moves via options (between 200- 1000%) like:

#TataMotors
#TataPower
#DLF

to name a few