Breakout stocks: CoForge, TechM, Sonata can rally up to 14%, suggest charts

The Nifty IT index as underperformed the benchmark Nifty 50 so far this year. Will the upcoming Q4 results revive sentiment at these counters? Charts suggest that these 4 IT stocks look promising.

The Nifty IT index has underperformed so far this calendar year, with a loss of 0.7 per cent, as against a 3.5 per cent rally in the benchmark NSE Nifty index. In fact, the latter has scaled newer heights in recent trading sessions, whereas the IT index has still failed to hit a new high post January 2022. In comparison, the Nifty IT is still 10.5 per cent shy from its peak at 39,447.

With just a week to go for the Q4 earnings season to start, will this revive sentiment at these counters? For the records, TCS shall kick-in the