Infy, TCS, HCLTech: IT stocks staring at further losses; hint tech charts

Technical outlook on IT stocks: Infosys, TCS HCL Technologies and Tech Mahindra may slip up to 9% from present levels, suggest charts.

The NSE Nifty IT index was down 0.8 per cent at 37,055 levels in trades on Monday, as uncertainty on US tariffs rose after Donald Trump administration official suggested that 'reciprocal tariffs' would stay despite legal challenges.  The US President Donald Trump's Commerce Secretary Howard Lutnick on Sunday said that the "reciprocal tariffs were not going away".  On Monday, among individual IT stocks, Mphasis tumbled nearly 7 per cent, Persistent Systems and HCL Tech slipped near about 2 per cent each. READ MORE  Meanwhile, on the technical charts, the Nifty IT index and key stocks are showing signs of weakness, with key momentum oscillators flashing negative crossovers. The 14-day Relative Strength Index (RSI), Stochastic Slow and the Moving Average Convergence-Divergence (MACD) are showing a negative crossover on the daily chart; thus hinting towards a slightly weak bias in the near-term.  Here's a detailed technical outlook on the Nifty IT stocks, along with Infosys, TCS, HCL Technologies and Tech Mahindra. 

Nifty IT

Current Level: 37,055  Downside Risk: 5.6%  Support: 36,140  Resistance: 37,820  The Nifty IT index today slipped below its 20-Day Moving Average (20-DMA) for the first-time after April 23, 2025. The IT index is now likely to test support around 36,140 levels; below which a dip towards 35,000-mark cannot be ruled out. The bias for the index is likely to remain tepid as long as the index remains below 37,820 levels. CLICK HERE FOR THE CHART  ALSO READ | Sensex trapped in 1,000-pt range ahead of RBI policy; strategy this week 

Infosys (Infy)

Current Price: ₹1,548  Downside Risk: 6%  Support: ₹1,542; ₹1,507; ₹1,480  Resistance: ₹1,600  Infosys stock is seen testing support at its 20-Day Moving Average (20-DMA), which stands at ₹1,543, and a key short-term moving average that the stock has held since May 12. Break and sustained trade below the same can trigger a fall towards ₹1,480 - ₹1,455 levels; with interim support seen at ₹1,507. On the upside, the stock is expected to face resistance around ₹1,600 levels. CLICK HERE FOR THE CHART 

TCS

Current Price: ₹3,433  Downside Risk: 4.3%  Support: ₹3,407; ₹3,350  Resistance: ₹3,500  TCS stock has been exhibiting weakness on the daily scale, ever-since the stock broke below its support at ₹3,500 levels. The stock now seems on course to test support around its trend line at ₹3,350 level; below which a dip to ₹3,284 levels seems likely. Near support for the stock exists at ₹3,407. CLICK HERE FOR THE CHART  ALSO READ | MCX, Firstsource shares can zoom over 30%, hit new life-time highs: charts 

HCL Technologies

Current Price: ₹1,630  Downside Risk: 8.9%  Support: ₹1,570; ₹1,550  Resistance: ₹1,645  HCL Technologies stock is seen testing support at its 100-DMA, which stands at 1,623. The stock, however, is seen trading below its earlier support, which stands at ₹1,645 and is now likely to act as a short-term hurdle. On the downside, the stock can drift to ₹1,485 levels, with intermediate support likely around ₹1,570 and ₹1,550 levels. CLICK HERE FOR THE CHART 

Tech Mahindra

Current Price: ₹1,555  Downside Risk: 8%  Support: ₹1,546; ₹1,518  Resistance: ₹1,588  Tech Mahindra stock is seen trading close to its 100-DMA support, which stands at ₹1,546; below which the next major support stands at ₹1,518 levels. In case of weakness, the stock can potentially dip to ₹1,430 levels. Near resistance for the stock now stands at ₹1,588. CLICK HERE FOR THE CHART