Infy, Coforge: Breakout in IT index may assist stocks to soar up to 10%

While index requires to scale major hurdles, the aggressive rally towards those has triggered positive upside in IT stocks.

Nifty IT index surged over 2 per cent on Friday, right after demonstrating aggressive structure over the 200-day moving average (DMA). This move could garner fresh upside in IT stocks, especially those n the verge of delivering bullish breakouts. 

On Friday, Shares of Infosys, Tata Consultancy Services, Persistent Systems rose 2 per cent, while the rest of the IT pack gained over 1 per cent. 

Here’s the technical outlook for stocks gearing to deliver robust breakouts:-

NIFTY IT INDEX

Outlook: Index needs to scale significant barriers to remain bullish 

While the index has managed to scale over the 200-day moving average