On Wednesday, shares of Cera Sanitaryware, Jindal Stainless, Siemens, and Triveni Turbine recorded new all-time highs, despite weak market
According to the technical analyst from Anand Rathi, Persistent Systems can advance to Rs 5,250; while Wipro may see faster momentum above Rs 414.
Analysts remain cautious on mid-and-smallcap segments and suggest earnings need to catch up before the stocks start to recover
Shares of Tata Consultancy Services, Infosys, HCL Technologies, Coforge and Persistent Systems are indicating chart structures that reflect resumption of their short-to-medium term upmove.
Volumes spurt were significantly higher during strong positive closes than during negative sessions.
Since January 6, the IT index rallied 9 per cent, as compared to 1.6 per cent rise in the Nifty50
The company's strong performance in recent years, healthy order book, and strong deal pipeline indicate an encouraging demand trend, said Motilal Oswal
The company said it won several large deals across industries and service lines, driving 20 per cent sequential growth in total contract value (TCV) bookings during the quarter.
The Nifty IT index has recovered smartly from its September lows, and if the current momentum sustains select IT stocks could witness a medium-term bullish trend.