Chart check: Trading strategies for Infosys, Wipro and TCS post Q1 results

The current price action of these three stocks needs breakout to gain further traction, suggest charts

After rallying nearly 5 per cent in the last two sessions to a record high of 29,835.90, amid expectations of a strong Q1 earnings show, the Nifty IT index faced selling pressure on Friday. It slipped 1.25 per cent in intra-day session, with seven of 10 constituents in the red.

For the year, Nifty IT Index has notched a gain of 23 per cent, shows ACE Equity data. The large-cap names from the space, namely TCS (up 36 per cent), Infosys (up 50 per cent) and Wipro (up 50 per cent) too have clocked handsome returns during this period. 

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