“Anand James views the Nifty IT Index as having broken down decisively with strong bearish momentum, expecting any short-term technical rebound to be shallow. He identifies support at 32,500-32,800, with further downside to 31,100-31,000 if it fails, and resistance at 34,000-34,300. The broader trend remains under pressure below the 200-day SMA (36,800), suggesting a cautious stance due to weak momentum and AI concerns.”

Anand James’s track record: 14 graded calls · 95% CI 12–55%