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You are here : IndiaNotes >> Research & Analysis >> Industries >> Information Technology >> Research

IT Index gives Breakout, Turns out to be the Best Bets

Dynamic Equities Pvt Ltd | 25 Nov, 2016  | Follow Author | Add to my Favourites 
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IT stocks had been all time favorite investment area for many investors for a long time at it had the potential to yield high returns.


In February 2009, the Index was trading at approximately 2000 level. Till December 2010, it had rallied almost 275 per cent to trade at 7500 level. In 2011, the Index corrected and slipped by almost 33 per cent to 5000 level. Then again, in March 2015, the Index pulled itself together and rallied 150 per cent to make the high of 12800. Thereafter, the correction followed again, bringing the Index down to the low of 9300, declining 27 per cent in November 2016.


The recent correction has been due to two main reasons, slowing growth and the election of Donald Trump as US President. Most IT companies have reduced their revenue guidance for the upcoming quarter. The sector sunk further into uncertainty as the Republican candidate Donald Trump was elected as the new president of the US.  The country accounts for around 60% of India’s software exports. During his campaign, Trump had constantly spoken against IT outsourcing and immigration. He even talked about Indian companies such as Tata Consultancy Services (TCS) and HCL Technologies. Trump is supposed to began his reign from 20th January and the scenario for the Index will get a clearer picture then.

 

However, today, the It Index gave the breakout of three week high of 10110 with the next target of 10448. This makes the space attractive for the investors and hence it is suggested to keep an eye on this Index which can be a wealth creator in coming days.

 


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About Dynamic Equities Pvt Ltd

Dynamic Equities Pvt. Ltd. is a a SEBI Registered Investment Advisor and Stock Broker, a leading financial services provider, and one of the major players in the Equity markets in India. With an experience of over 15+ years in Stock Markets and Equity Research, they provide daily updated Support & Resistance of 4200 instruments across 93 exchanges and 56 countries globally. They have an in-house team of over 25 analysts. Under the guidance and mentorship of Mr. Shailesh Saraf, MD of Dynamic Equities Pvt. Ltd., these analysts are dedicately involved in guiding their clients and users of the website www.dynamiclevels.com for trading in the market. Mr. Shailesh Saraf has an experience of over 24 years in the financial market, especially in capital & derivatives market operations, trading, research and management related areas. Dynamic Levels is a website owned by Dynamic Equities Pvt. Ltd. The website can be reached at www.dynamiclevels.com.


For more information please write in to [email protected]


Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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