Nasdaq was in bearish trend from last 1.5 years. Nasdaq make life time high of 16,800 in december 2021 from that point of time it corrects to 10,400 level. Percentage wise more than 38 percent fall.
NASDAQ (National Association of Securities Dealers Automated Quotations) is a global electronic marketplace for buying and selling securities, particularly stocks of publicly traded companies.
It was founded in 1971 and is headquartered in New York City. NASDAQ is known for its innovative use of technology in trading and has become a leading stock exchange, listing many of the world’s biggest and most well-known technology companies, such as Apple, Microsoft, Amazon, and Facebook.
It also lists many other types of companies across a wide range of industries, from healthcare to finance. In addition to the NASDAQ Composite Index, which tracks the performance of all the companies listed on the exchange,
NASDAQ also has several other indices, including the NASDAQ 100, which tracks the performance of the 100 largest non-financial companies listed on nasdaq.
The performance of the NASDAQ Composite Index over the years has been quite impressive, but it has also experienced significant fluctuations and volatility. Here is a summary of its performance over the past decade:
- In 2011, the NASDAQ Composite started the year at around 2,700 and ended the year at around 2,600, a decline of about 4%.
Overall, the NASDAQ Composite has performed very well over the past decade, with an average annual return of about 15%.
However, it’s important to note that past performance is not a guarantee of future performance, and that the stock market can be unpredictable and subject to sudden changes in investor sentiment and external factors such as global events and economic conditions.
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Nasdaq and Nifty IT Breakout Levels
“Nifty IT” is a term used to refer to the IT sector of the National Stock Exchange (NSE) of India. Nifty IT index is a benchmark index for the Indian IT sector, which comprises of companies that provide software development, IT consulting, hardware, and other IT-related services.
The index is calculated based on the market capitalization of the companies included in it. Some of the major companies included in the Nifty IT index are Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, Tech Mahindra, and Mindtree, among others.
Investors can track the performance of the Nifty IT index to get an idea about the overall performance of the Indian IT sector.
It is also possible to invest in the Nifty IT index through various financial instruments such as index funds, exchange-traded funds (ETFs), and derivatives like futures and options.
Nifty IT take support at 27,700 and if it breaks 30,700 level then IT stocks will go towards its life time high.