Analyst Call Tracker: Pain continues for IT stocks
IT companies have had a weak year due to weak discretionary spends in the US, one of the biggest markets for Indian firms
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IT companies have had a weak year due to weak discretionary spends in the US, one of the biggest markets for Indian firms
A short build-up was seen in 76 stocks, including Bata India, REC, L&T Technology Services, Wipro, and Sun TV Network.
The Nifty future closed positive with gains of 0.14% at 22546 levels on Wednesday. India VIX was down by 2.40% from 11.65 to 11.37 levels. Volatility has been cooling off from the last three sessions.
Tata Consultancy Services and Infosys are slated to announce their March quarter results on April 12 and 18, respectively
L&T Technology Services has seen a breakout of long downward sloping resistance trendline adjoining highs of January 4, 2022 (record high), and February 12 this year. The stock has formed long bullish candlestick pattern on the daily charts.