“But looking at the overall structure for the IT index, we believe that if it continues to hold above 36,900, then possible continuity of this uptrend we can see going forward in Nifty IT,” says Rajesh Palviya, Axis Securities. Let us talk about the IT sector because that has been the only sector that has … Read more
CLSA’s downgrade of Indian IT bellwether Tata Consultancy Services (TCS) and HCL Technologies did not go down well with the investors, triggering a selling spree in most IT stocks. Both TCS and HCL Tech shares fell 2% in Tuesday’s trade. The Hong Kong-based brokerage downgraded TCS to ‘Sell’ for the price target of Rs 3,925 … Read more
Indian market is likely to consolidate on Tuesday tracking mixed global cues. The Nifty future closed positive with gains of 0.32% at 22167 levels on Monday. India VIX moved up by 5.22% from 15.22 to 16.02 levels. Volatility slightly rose but created momentum for the bulls. Positive setup was seen in stocks like GMR Infra, … Read more
Coforge Ltd, part of the IT industry, has rallied more than 30% in the last 3 months, which helped the stock to break out from a Saucer pattern on the weekly charts. The breakout has opened room for the stock to head towards 7000 levels in the short to medium term, suggest experts. The stock … Read more
Brokerage firm CLSA maintained a buy rating on RIL, Goldman Sachs downgraded ONGC, BPCL, and IOC. Jefferies has a buy rating on Godrej Consumer and Nuvama upgraded Infosys to buy ahead of Q3 results. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on RIL: Buy| Target … Read more
The upward trend of Nifty is expected to persist in the near term, but the index may encounter resistance around 21,800-21,850 levels. Technical analysts suggest that a definitive move above 21,850-21,900 is necessary to unlock the next upside target of 22,200. Analysts recommend stocks like Axis Bank, Canara Bank, Divi’s Labs, Cipla, Coforge, Infosys, ITC, … Read more
Mumbai: The deal value in the Indian equity capital markets (ECM) experienced a remarkable 66% surge, reaching a high of ₹2.18 lakh crore ($26 billion) in the calendar year 2023 from ₹1.31 lakh crore ($16 billion) in the previous year, according to data from Bloomberg. The number of deals also saw a significant 66% increase, … Read more
