Infosys, TCS, HCL Technologies and Tech Mahindra are scheduled to announce Q2FY26 results in the next 10 days; here's a technical check on these 4 IT shares.
Valuations across IT services are currently reasonable, but a sector-wide re-rating depends on the next tech cycle and earnings upgrades
IT stocks such as Infosys, TCS and 3 others could see limited downside from current levels, as they are trading above key support levels, backed by positive cues from momentum oscillators, show charts
Another silver lining for the companies and the markets, analysts said, is the falling dependence on the H-1B visa in the last few years.
Meanwhile, four IT companies combined - TCS, Infosys, HCL Technologies and Tech Mahindra - have made a dent of ₹15,321 crore in LIC's portfolio thus far in July
HCL Tech shares fell after it posted a net profit of ₹3,843 crore for Q1FY26, down 9.72 per cent Y-o-Y
Technical chart shows presence of strong support for HCL Technologies stock in the ₹1,515 - ₹1,533 range.
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Growth trends across the India IT sector continue to diverge. While Tier-I companies are likely to post flat to marginal constant currency revenue movement, mid-tier firms are expected to outperform.
Noida-based IT services exporter raises lower end of its guidance to 3-5% on constant-currency basis
At 11:30 AM, BSE Sensex was trading at 82,107.93, down by nearly 400 points or 0.49 per cent
Technical outlook on IT stocks: Infosys, TCS HCL Technologies and Tech Mahindra may slip up to 9% from present levels, suggest charts.
Among the sectoral indices on Nifty, the IT index settled with gains of 4.34 per cent, with all the 10 constituent stocks posting gains in the range of 2.73 per cent to 7.74 per cent
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Among individual IT stocks, Infosys slipped over 5 per cent in intraday deals on Wednesday, after Morgan Stanley downgraded the stock to 'equal weight', and preferred TCS.
The Nifty IT index hit its lowest level since June 28, 2024, and has declined 17% thus far in the calendar year 2025, as compared to 5% decline in the Nifty 50.
IT stocks were seen trading in oversold zones at current levels; despite this technical charts suggest that Infosys, TCS, HCL Technologies and Tech Mahindra could slip up to 13% from here on.
Technical charts show that the large-cap IT stocks can fall up to 14% from present levels, while the Nifty IT index can shed another 6%.
Technical charts show that HCL Technologies, TCS, Infosys and Tech Mahindra shares could fall up to 8% from here on; while, Wipro can potentially rally by another 11%. Check key levels here
Meanwhile, NSE F&O data shows that FIIs were net sellers in Nifty futures for the sixth straight trading session on Tuesday, with net sales of 70,318 contracts in this period.