Indian benchmark indices faced profit booking on Wednesday ahead of TCS’ Q1 results, with BSE Sensex dropping 426.87 points to 39,924.77 and Nifty50 falling 108.75 points to 24,324.45.
Blue-chip IT stocks like TCS, Infosys, and HCL Technologies are in focus. According to YES Securities’ Technical Research Analyst Laxmikant Shukla:
Infosys is in an uptrend with strong support at Rs 1,570, targeting Rs 1,780.
TCS is cautionary with support at Rs 3,870 and resistance at Rs 4,100. A rebound may push it to Rs 4,100-4,150.
HCL Technologies has broken resistance at Rs 1,490-1,500, aiming for Rs 1,620 with support at Rs 1,435.
DailyBubble sees potential in these stocks based on technical analysis, but advises caution and recommends consulting a financial advisor before making any investment decisions.