One Sector that has gone totally out of favour: Large Cap Indian IT stocks. Yeah, a sector where Valuation looks good but nobody wants to buy.
Here's how the leading stocks of the sector look on the chart:
Infosys: Waiting to Breakdown?
Infosys stock has done well to hold 900 since September 2014 and the big question: Can it survive this level with so much of chaos at the leadership level.
TCS in state of Going nowhere
TCS stock has done nothing for ages now. It's just bouncing off from lows but not heading higher. There is lack of catalyst.
Wipro: Is something exciting about to happen?
Is Wipro stock ready to make a move? The stock made a large candle move few weeks back and since then is quietly consolidating. The stocks usually ready to make a big move do that. But considering Wipro stock is in a tough sector environment, I am not sure how many traders would be willing to take that bet. Having said that - it's a stock to keep an eye on among the entire IT pack
Conclusion: Wipro is one stock one should track among top three.
Recommended Reading: The PE that counts
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers