Infosys, Wipro, TCS: How to trade frontline IT stocks in the current market

After the recent correction in Nifty IT, the index is gradually rising

NIFTY IT: After the recent correction, the index is gradually rising. However, the resistance range of 27,000 to 26,500 has become the immediate hurdle. The next bigger upside is above this resistance, which the index seems to be attempting to conquer as the Relative Strength Index (RSI) is well positioned with a positive crossover. The support comes at 25,200 mark. CLICK HERE FOR THE CHART

 

Infosys Ltd (INFY): This counter is attempting to cross the next resistance of Rs 1,360 level, on the closing basis. Once that happens, the next up move may see a rally towards Rs 1,400 and Rs 1,425 levels. At the current juncture, till the counter defends the support of Rs 1,280 on the closing basis, the upside bias will persist.  CLICK HERE FOR THE CHART

 

Wipro Ltd (WIPRO):  This counter is trading in the range of Rs 450 to Rs 430 levels. A decisive move beyond this range may trigger the next confirmed trend. On the higher side, a positive breakout may see Rs 480 levels and breakdown may lead to Rs 420 and Rs 411 levels, as per the daily chart. CLICK HERE FOR THE CHART

 

Tata Consultancy Services (TCS):  A consolidation in the range of Rs 3,250 to Rs 3,100 levels is taking place in this counter. At current levels, Moving Average Convergence Divergence (MACD) is indicating a weakness with a negative cross trending downward, Similarly, RSI is resiliently holding on to the support of 50 value, which also suggests weakness.  CLICK HERE FOR THE CHART