Positive on Infosys, TCS & Wipro: Sameer Shetye

Sameer Shetye, Derivatives & Technical Analyst, AK Stockmart in an interview with ET Now talks about IT stocks.

A quick word from you on the charts, do we have weakness in some of these front liners from the IT space, Infosys, TCS, Wipro?

If we have a look at CNX IT as a whole, CNX IT has been moving in a downward sloping channel, gave an upward break at close to 6775 levels. So we are positive on CNX IT and can expect close to 7025-7030 levels on the CNX IT.

Major participants being Infosys, TCS and Wipro, positive on these individual stocks. Infosys, it is a channel breakout that it has given at close to 3100 levels and we are expecting close to 3230 levels on Infosys. So we remain positive on Infosys. As far as Wipro is concerned, Wipro too looks positive to me and can test close to 450 levels in the coming days and TCS too looks positive to me and can test close to 1175 levels. So these IT counters are looking strong on the basis of strong index breakout also.