Technical Analysis of Indian Equities by Nooresh

Sector on Radar – Information Technology – Infosys , Tcs , Tech Mahindra , Hexaware , Persistent, Wipro


In the last 1 year or so the sector has been a major laggard and also on a 2 year time scale.

Quite a few stocks have broken down or at important supports.

I do not prefer buying the bottoms generally so that is out of the picture. But the momentum on the downside is not strong for a major fall as of now. So more so it would be a watch for a quick short or buying on turnaround from supports for a quick pullback trade.

The main clarity is IT Index does not look like a leading sector on upside in the near future.

Hexaware a fresh breakdown but at 170-190 a good dividend yield play.


Infosys --- At a crucial support. Down 20% from peak.


IT Index - Near major supports

IT Index

Persistent --- Testing major supports


Tata Elexsi - A fresh breakdown ?

Tata Elexsi

TCS --- Pulling back from resistance.


Tech Mahindra --- Under pressure for last 1 year or more.

Tech Mahindra

Wipro - What a breakdown - 2 year range broken


Disclosure - No positions apart from quick short or long initiated in Quickgains 


Nooresh Merani

Securities covered above::  Infosys , Tcs , Tech Mahindra , Hexaware , Persistent, Wipro

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Financial Interest:

Nooresh Merani and his family/associates/ analysts do not have exposure in the securities mentioned in the above report/article.

Nooresh Merani and his family/associates/ analysts do not have any financial interest/beneficial ownership of more than 1% in the company covered by Analyst.

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The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision

Article by Nooresh Merani

Nooresh has written 2665 articles.

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{ 2 comments… add one }
  • Zeeshan September 4, 2016, 16:21

    Awesome analysis. Please update your thoughts on hcl technologies and mindtree

  • Naren September 6, 2016, 23:37

    Nice analysis… But can you pls include date of publishing these articles so we can relate bettet n make max of these?. Thnx


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