How to trade IT stocks amid Nasdaq fall, rupee levels, Accenture results?

Technical charts suggest that Infosys can potentially rally up to 10% from present levels; while TCS and HCL Technologies still look weak.

The NSE Nifty IT index surged 2.7 per cent to hit a new 52-week high of 35,875 in intra-day deals on Friday led by gains in index heavyweight Infosys and TCS. The former jumped 2.5 per cent, while the latter rallied 1.7 per cent.

Among others, Persistent Systems, CoForge and LTIMindtree soared around 3 per cent each. LTTS, MphasiS and Tech Mahindra advanced over 2 per cent each.

IT stocks are in focus today post announcement of Accenture May quarter (Q3) results on June 20. The company, considered a benchmark for the Indian IT services industry, revised