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Shares of major IT stocks are trading near key support levels, if that breaks a severe downside seems imminent, indicate charts.
Topics
Nifty IT stocks | Buzzing stocks | Q1 results
Avdhut Bagkar |
Last Updated at July 4, 2022 12:45 IST
Shares of Information technology (IT) companies are likely to be in focus as they set foot to announce quarterly results starting with Tata Consultancy Services (TCS) this week. The Tata-Group IT services and consulting major – TCS is scheduled to announce its results on Satuday, July 08.
In the recent market rout, IT stocks have been badly hit with TCS down almost 18 per cent from its historic peak recorded in January 2022. Among others, Mindtree has plunged 43 per cent. L&T Technology Services and Wipro have tumbled around 50 per cent and 43 per cent, respectively, from their all-time highs.
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First Published: Mon, July 04 2022. 12:41 IST