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
The Nifty IT Index has underperformed the broader markets in the last 3 months and 6 months, owing to macro uncertainties
Among individual stocks, Infosys, Wipro, Oracle Financial Services Software, and Mphasis shares rose 3 per cent each on Monday
However, thus far in the calendar year 2025, Nifty IT index has underperformed the market by falling 18 per cent, as against 5.5 per cent rally in Nifty 50.
Markets are currently concerned about weak Q1 earnings and a faltering trade deal discussion between the US and India, Menon said, which may severely impact domestic exports
TCS shares extended their decline for the fourth consecutive session, slipping 4 per cent after it announced plans to lay off roughly 2 per cent of its global workforce
TCS on Monday was seen trading below the monthly super trend line support for the first time since July 2009. The next stop could be the 100-MMA, hints the technical charts.
At 11:30 AM, BSE Sensex was trading at 82,107.93, down by nearly 400 points or 0.49 per cent
Kotak Institutional Equities expects FY2026 to be a year of underperformance for TCS, after its Q1 results missed expectations
Broader markets were also trading in red. The Nifty Midcap 100 was trading at 58,749, down by 0.69 per cent.
TCS, Infosys, Wipro, LTIMindtree, Tech Mahindra, HCL Technologies and Persistent Systems are down in the range of 1% to 2%.
TCS share price slipped below the trend line support on the daily scale post Q1 results; the stock can potentially drop another 5 per cent, suggest technical charts.
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The Nifty IT was the worst-performing sectoral index, down by nearly 1 per cent in intra-day deals on Thursday.
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Technical outlook on IT stocks: Infosys, TCS HCL Technologies and Tech Mahindra may slip up to 9% from present levels, suggest charts.
LIC's top equity holding in terms of value, Reliance Industries (RIL), has been one of the biggest contributors in its portfolio, with the stock's 25 per cent surge adding ₹26,515 crore in value
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.