IT stocks have been on a downtrend since the start of the week, just ahead of the Infosys Q3 numbers which is to be announced this Friday. Traders have turned cautious as to how the Infy numbers will pan out. Since the start of the current week, Infosys declined 3%, Wipro was down 1.25% and TCS was marginally in red, losing 0.63%.
Over the last two quarters, the Narayan Murthy magic seems to have worked well for the stock price, but will this magic continue?
Considering that the Infosys stock price has already gained 50% since Murthy's return, will it be advisable to add on to the stock in the current decline? Or can one accumulate TCS or Wipro in the current fall.
Read on to know what Ranak Merchant, Technical Analyst - Strategies at Sushil Financial Services opines on the IT space and markets in general.
