IT STOCKS PREDICTION : WHAT SHOULD WE DO ?

With the equity market erasing losses over the course of the past two months, IT majors Infosys, Wipro, and TCS have recovered up to 20% from their 52-week lows.Wipro stock has increased 8.33 percent from its 52-week low, while Infosys has recovered 20 percent.From their yearly low, TCS shares have also increased by 15.58 percent. The US interest rate hike cycle has slowed, which has contributed to the IT stock recovery. The three major information technology companies serve customers all over the world, and a rally in IT stocks was sparked by optimism regarding the US interest rate hike.On October 17, Wipro stock hit its 52-week low of Rs 372.40, while Infosys shares touched their 52-week low of Rs 1,355.50 on September 26.In a similar vein, on September 26, TCS shares fell to a 52-week low of Rs 2,926.Since the end of September, other important indices have also recovered.Since September 26, the Sensex has gained 5,556 points, or 9.72 percent.The BSE IT index also rose 3,158 points, or 11.62 percent, during that time.The three IT shares were trading in a mixed manner today.Compared to its previous close of Rs 405.20, Wipro stock fell 0.52 percent intraday to Rs 403.10.Shares of Wipro have fallen by 36% in the past year and 43.6% this year.
Today, Infosys shares were also trading flat.On BSE, the IT stock lost 0.76 percent to Rs 1616.This year, Infosys stock has lost 14.43 percent and 5.68 percent in a single year.On other hand, portions of TCS acquired 0.14% to Rs 3,401 in late morning bargains today.The stock has lost 3.63 percent in the past year and 8.92 percent this year.During the current session, the BSE IT index fell 63 points to 30,376.
WIPRO- Wipro stock made a high of Rs 700 and presently is accessible at close to half rate at about Rs 404.The stock may trade sideways for a while, reaching a range of Rs 454, as the selling seems to have slowed down.An upmove could be caused by any closing above this.With a long-term target of Rs 719, which was the 52-week high, long-term investors can begin to accumulate because of its strong fundamentals and order book pipeline. Wipro is one of the IT industry's weakest large-cap stocks, as shown by the Nifty IT index after it reached a new high.Although it may touch 455 in this bounce, we believe it to be a dead cat bounce.
INFOSYS -In the long run, Infosys shares might surpass Rs 1900.Infosys is right now seeing lower levels purchasing and short covers following rupee shortcoming and recuperation in benchmark records.The stock's technical structure and momentum oscillators point to a significant uptrend.In the upcoming trading sessions, the momentum may propel the Infosys stock to higher levels of Rs 1680.
TCS- Long-term, the IT stock could reach Rs 4,000.TCS, India's leading provider of IT services, continues to experience strong organic revenue growth and the industry's highest margin.The company almost has no debt.The company also pays a dividend of 56.35 percent and has a positive return on equity.Additionally, based on the technical setup, the TCS share price may experience additional strength in the near term, pushing the stock towards levels of Rs 3550.