The article is about the chart pattern formation using technical analysis as to how it plays an important role in secondary market, analysis of stocks and its usefulness towards buying and selling the shares. Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity. “A Study on the Price fluctuation in Equity IT Stocks with Reference to NSE” was done based on historical prices of IT stocks. Analysis is done based on the technical tools like Stochastic Oscillator and Rate of Change and inferred based on the formation of chart patterns.