Two weeks back we had noticed IT putting its head again from underground and shared some actionable ideas. As the market progresses, we’re noticing new names joining this list and thought it would be nice to have a follow-up post for the same.
Let’s see what these stocks are indicating for the weeks and months ahead.
HCL Tech has now joined the other stocks in this sector as it attempts to move past its overhead supply zone of 1,024. Retreating from the same level twice in the recent past, we might see a follow-through this time around as the tailwinds favouring IT could favour this particular stock as well. The indicator is attempting to move back into the strong zone.
We are bullish above the level of 1,024 with a target near 1,425.
Click on chart to enlarge view.
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