ITBEES green shoots in IT (accumulate)
After major consolidation IT sector has started showing resilience to market movement. IT behmoth likes for TCS infy have started recovering and trying for bottom formation. With slight improvement in US economy may take IT in a sweet spot.
Given the domestic economy is going good with increased export will add fuel to rally estimated in next 6-9months.
To play stock specific will need more capital instead for 10-15% gain ITBEES is a good recommendation. As chart suggest the price was tarding in a range having good support around 27 while upper range is near 35. A golden cross over is in formation too making it a more convincing shot. Accumulate till 29.50-30.50 for targets of 33.50 and 35.50 in next 6-9months.
Given the domestic economy is going good with increased export will add fuel to rally estimated in next 6-9months.
To play stock specific will need more capital instead for 10-15% gain ITBEES is a good recommendation. As chart suggest the price was tarding in a range having good support around 27 while upper range is near 35. A golden cross over is in formation too making it a more convincing shot. Accumulate till 29.50-30.50 for targets of 33.50 and 35.50 in next 6-9months.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.