Valuations across the sector remain attractive, but Nomura stays selective. It has rolled forward its valuation framework to H1FY28 while maintaining target multiples.
Analysts attributed the up move to a pullback rally after sharp declines in past sessions. The index is currently 22.72% below its 52-week high of 46,088.90 and is down about 14.8% so far this year.
Infosys, Persistent Systems and Mphasis are likely to trade with a favourable bias as a key momentum indicator - the MACD has turned positive on the technical charts for these 3 IT stocks.
Moody's downgrades US rating: Analysts see IT sector taking longer-than-expected to yield returns. Investors, they believe, should brace for near-term pressure
More earnings downgrades are probable as fiscal 2024-25 (FY25) results come in, according to Anirudh Garg
Stocks to Watch on Tuesday: Mahindra Logistics, steel stocks, Vedanta, Tata Power, Mazagon Dock, Coal India and HG Infra Engineering are among the stocks to watch today, April 22, 2025
Technical charts suggest that IT major shares - Infosys, TCS and Wipro can potentially bounce back up to 18% from present levels; here are the key levels to watch out for.
According to Motilal Oswal Financial Services, Infosys and LTIMindtree, both companies with a high discretionary tilt, have provided a more cautious view on discretionary-spend recovery
Analysts have mixed views on TCS following its Q3FY25 performance, with several brokerages highlighting the company's growth potential despite near-term challenges
Stock Market Today: The Nifty IT index, eventually, settled 2.6 per cent lower on the National Stock Exchange (NSE) at 44,954 level. By comparison, the Nifty50 index ended 1.5 per cent down at 23,587
Technical charts suggest that heavyweights TCS and Infosys seem to be favourably placed, while Wipro could face some downward pressure. Check key levels here.
Stocks to watch today: With Accenture raising its revenue guidance for FY25 to 3-6 per cent, exceeding its previous guidance, IT stocks in India would be in focus today.
A combined 2.42 million equity shares, representing 1.73 per cent of the total equity of the company, had changed hands on the NSE and BSE till 11:21 AM.
The Nifty IT index had shed 3% on Wednesday ahead of the US Fed policy decision. Here are the key pivot points to track on top IT stocks with potential upside and downside targets as per charts.
IT stocks outlook: TCS can potentially rally another 6 per cent from present levels; while Infosys, Wipro and LTIMindtree can rally up to 15%, suggest charts.
Technical charts suggest that Infosys can potentially rally up to 10% from present levels; while TCS and HCL Technologies still look weak.
Oscillators like RSI and MFI are in rising mode and placed above 60 on the daily chart, Indicating strength in the stock, as per Nandish Shah
While index requires to scale major hurdles, the aggressive rally towards those has triggered positive upside in IT stocks.
Stellar long-term track record, growing digitalisation augur well for IT sector funds
There is an "Inverse Head and Shoulder" pattern getting established on the daily chart. Technically, this pattern breakout over Rs 3,150 levels would add aggressive bets on the stock.