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.
Tata Sons invested ₹3,000 cr in Tata Capital, Tata Projects rights issue in FY 2025
Nine of the 13 brokerages that reviewed TCS's Q4 results downgraded their target price for the stock
In the previous session, Indian markets ended in the red after the RBI MPC cut the repo rate by 25 basis points to 6 per cent, and shifted its policy stance from 'accommodative' to 'neutral'.
The Tata Group's IT arm will kickstart the fourth quarter earnings season for India Inc. on Thursday, April 10.
IT stocks such as Infosys, TCS, HCL Technologies, LTIMindtree and others have declined up to 37 per cent from the December highs and look oversold on the daily chart; here are the key levels to track.
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.
In past two days, TCS was down 4% to Rs 3,624.90 on fears of a slowing US economy and trading close to its 52-week low of Rs 3,593.30 touched on June 4, 2024.
Technical outlook on Nifty IT, large-cap technology stocks: The IT index along-with Infosys, TCS, HCL Technologies, Tech Mahindra and Wipro look poised for further losses from present levels.
TCS hit Rs 3,780.65, its lowest level since June 20, 2024, in Wednesday's intra-day trade; it is quoting lower for the third straight day, falling 4 per cent during the period
TCS is seen testing its 20-month moving average for the first time in 21 months, a monthly close below the same shall open the doors for a slide towards Rs 3,170 levels; suggests technical chart.
A large portion of the dip is attributed to the over 10 per cent correction in ITC (Rs 11,863 crore), Larsen & Toubro (Rs 6,713 crore) and State Bank of India (Rs 5,647 crore) shares, thus far in CY25
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
Analysts have mixed views on TCS following its Q3FY25 performance, with several brokerages highlighting the company's growth potential despite near-term challenges
IT-bellwether TCS's headline revenue numbers remained flat, but the deal-win total contract value (TCV) was encouraging, signaling potential momentum pick-up ahead
Thursday's session had already painted a grim picture, with the Sensex plunging 528.28 points (0.68 per cent) to close at 77,620.21. The Nifty shed 162.45 points (0.69 per cent) to settle at 23,526.50