Interesting Sector rotation happening recently. Have a look at the Multiple Ratio Chart of various sectors featured below.
Notice how Auto has turned lower recently while IT index was recovering. Something interesting happened today. Erstwhile outperformers - Nifty Bank & Nifty Financial Services turned around today while the IT index and Metals took back seat.
I get a feeling that the Nifty 50 index would continue its dream run, backed by banks & financial services.
If you are itchy to take exposures in IT sector, then wait for a sustained improvement in the above line and let it cross the 100 mark. Also check the Nifty IT price chart for a confirmed breakout above recently trading range.