Page 7 - Nifty It Index
Nifty IT index gains 6% in 2 days; Tech Mahindra, Coforge hit 52-week highs
Mphasis surged 4 per cent, while TCS, Infosys, HCL Technologies and L&T Technology Services gained in the range of 2 to 3 per cent
 "Nifty IT index gains 6% in 2 days; Tech Mahindra, Coforge hit 52-week highs")
TMS Ep436: India's macro data, K Srinath Reddy, Nifty IT-NASDAQ, TCS rule
What does India's latest macro data imply? Why does K Srinath Reddy believe booster shots are no longer needed? Has the Nifty IT-NASDAQ correlation ended? What is the new TCS rule? Answers here
 "TMS Ep436: India's macro data, K Srinath Reddy, Nifty IT-NASDAQ, TCS rule")
Has the correlation between the Nifty IT index and the NASDAQ ended?
The gain in NASDAQ thus far in CY23 was largely fueled by Google, Apple, Amazon, Netflix and Meta Platforms - also known as the FAANG stocks.
 "Has the correlation between the Nifty IT index and the NASDAQ ended?")
Charts show range bound trend for Nifty IT in near-term, adopt sell-on-rise
Given the current market conditions, the best trading strategy for traders would be to buy the Nifty IT Index near the support levels and sell it near the resistance levels, said the technical analyst
 "Charts show range bound trend for Nifty IT in near-term, adopt sell-on-rise")
Infosys can slip below Rs 1,000 levels; TCS can hit Rs 2,900, charts show
Nifty IT index may fall up to 3 per cent post hitting a new 52-week low, trend turns bearish.
 "Infosys can slip below Rs 1,000 levels; TCS can hit Rs 2,900, charts show")
Nifty IT index plunges 8% after TCS, Infosys post subdued Q4FY23 results
At 09:47 am; Nifty IT index, the worst performer, down 6 per cent, as compared to 1 per cent decline in the Nifty50 index
Pivot point for Nifty stands at 17,858, chart suggests
In case the Nifty faces resistance at 17,858, Ravi Nathani recommends adopting buy on dips strategy with support around 17,610 and lower levels.
 "Pivot point for Nifty stands at 17,858, chart suggests")
Charts suggest Nifty 50, IT Index may enter consolidation phase
Technical analyst Ravi Nathani expects the NSE benchmark index to consolidate in 17,150 - 17,850 range
 "Charts suggest Nifty 50, IT Index may enter consolidation phase")
Gopinathan's resignation will not hurt TCS much; add stock on dips: Experts
Analysts say the stock price could turn volatile in the near-term as the development comes amid a challenging macro-environment including fears of a potential recession in the US
 "Gopinathan's resignation will not hurt TCS much; add stock on dips: Experts")
Ravi Nathani recommends to buy IT, FMCG stocks on dips; Avoid metals
With an view to capitalize on a potential technical bounce, the technical analyst advises traders to adopt a buying strategy near the support price.
Nifty IT, Realty indices look bullish on chart: Ravi Nathani
The technical analyst also expects a pullback in the Nifty Pharma index.
IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days
Thus far in calendar year 2023, the Nifty IT index has outperformed the market by surging 10 per cent, as compared to 0.55 per cent decline in the Nifty 50
 "IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days")
Ravi Nathani recommends to wait for correction to complete in these sectors
According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.
IT stocks extend gain; Persistent Systems, Coforge rise up to 16% in a week
Since January 6, the IT index rallied 9 per cent, as compared to 1.6 per cent rise in the Nifty50
 "IT stocks extend gain; Persistent Systems, Coforge rise up to 16% in a week")
Positive trend ahead for Nifty IT, bearish on metal index: Ravi Nathani
As per the technical analyst, the best trading strategy for traders would be to buy Nifty IT either at the current market price or at dips, with a target of 31,500
 "Positive trend ahead for Nifty IT, bearish on metal index: Ravi Nathani")
Nifty trading range has narrowed down, says Ravi Nathani
According to the technical analyst, the near-term trading range on the Nifty is 18,149 - 17,760, close above or below would add trigger in the direction.
HCL Tech Q3: Weak macros, narrow FY23 guidance limit upside, warn analysts
In Friday's trade, the stock gained marginally to close at Rs 1,077 per share, as against 0.5 per cent rise in the S&P BSE Sensex
 "HCL Tech Q3: Weak macros, narrow FY23 guidance limit upside, warn analysts")
Nifty consolidating in the range of 17,775 - 18,265, says Ravi Nathani
According to the technical analyst, a big move on the Nifty is likely once the trading range is dismissed.
 "Nifty consolidating in the range of 17,775 - 18,265, says Ravi Nathani")
Wipro Q3 revenues may rise up to 3% QoQ; flattish margins likely: Analysts
On the bourses, Wipro underperformed peers as shares dropped 0.5 per cent, while TCS, HCL Technologies, and Infosys rose up to 11 per cent in Q3FY23
 "Wipro Q3 revenues may rise up to 3% QoQ; flattish margins likely: Analysts")
HCL Tech revenues may rise up to 6% QoQ to Rs 26,214 cr in Q3FY23: Analysts
HCL Tech Q3 preview: As per five brokerage estimates, analysts peg EBIT margins to see an uptick in the range of 53-60 basis points (bps) QoQ to 18.5 per cent in Q3FY23
 "HCL Tech revenues may rise up to 6% QoQ to Rs 26,214 cr in Q3FY23: Analysts")
