Last 1.5 years has been great for Frontline IT stocks be it TCS, HCL, Infosys, Tech Mahindra and now the money seems to be moving in all Technology stocks especially midcap and small cap companies. A wealth creation opportunity seems to be developing in the space with USDINR new base set at Rs. 62.
Let us look at various IT midcap stocks technical status.
MindTree: The Bull market here was in sync with frontline stocks
The stock is buy on deep deep declines now. The Bull market is not over and should be on radar for investment purpose.
Persistent Technologies: Runaway move
The stock is buy on deep deep declines now. The Bull market is not over and should be on radar for investment purpose on deep declines like 50 week ma.
Hexaware: WAITING FOR BREAKOUT
Hexaware is also one of the strong stock. The stock needs to breakout above 135 on weekly basis to restart fresh momentum move in the stock. Keep an eye on the breakout.
NIIT Technologies: WAITING FOR BREAKOUT
NIIT Tech has been in Bull market for long time now but needs to breakout above 305 to restart fresh momentum move. The breakout appears likely.
KPIT: Already Broken out
KPIT has broken out above 140 and seems to be consolidating. It’s only a matter of time before stock takes off in a big big way.
Infotec Enterprises: Already Broken out
Infotech Enterprises broke out above 200 and then just took off in a major bullish way. The stock saw pretty vertical upmove post breakout.
Eclerx: Already Broken Out
Eclerx broke out above 890 and the stock is buy on pullback. The stock has much higher levels to climb
Sasken: Breakout on weekly chart
Sasken broke out above 140 and the stock is buy on pullback. The stock looks good for more and seems to be turning around after long time
Tata Elxsi: Momentum Push
Tata Elxsi also seems to be turning around and moving in momentum steps. The stock appears buy on pullback near 20 dma
WHAT DOES THIS ALL MEAN?
Make a List of all the above IT stocks with breakout levels and probable buy areas and then look to add in the portfolio when stock declines. The Bull market in the sector appears structural and can surprise investors on the upside. The midcap IT sector appears very bullish on charts
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