The sell-off in IT shares forward of Q1 outcomes is just not over; TCS down 14%

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Shares of main IT shares are buying and selling close to key assist ranges, if a severe draw back break appears imminent, the charts point out.

Nifty IT Inventory | Buzzing Inventory | Q1 Outcomes

Avadhoot Bagkar |

The main target is more likely to be on shares of data expertise (IT) firms as they put together to announce quarterly outcomes beginning this week with Tata Consultancy Providers (TCS). Tata-Group IT Providers and Consulting Head – TCS is scheduled to announce its outcomes on Friday, July 08.

Within the current market, IT shares have been badly hit, with TCS down almost 18 per cent from the historic peak recorded in January 2022. In others, Mindtree has fallen 43 %. L&T Expertise Providers and Wipro have fallen by 50 per cent and 43 per cent, respectively, from their all-time highs.

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First printed: Mon, 04 July 2022. 12:41 IST

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