Infosys and Tech Mahindra are Nomura India’s top picks in the large cap IT space. It likes Coforge and Persistent Systems in the mid cap space.

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IT shares: Nirmal Bang Institutional Equities, which had been keeping a bearish stance on IT sector since April 2020, said buying IT stocks now will give sub-optimal returns going ahead.

Infosys, TCS, Wipro, TechM, Persistent Systems shares: Up to 40% potential downside ahead for IT stocks

Adani Enterprises had witnessed a massive decline in the primary trend in January with huge volumes while in February, it had formed a double bottom formation at around Rs 1,000–1,100 levels.

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Based on the OI percentage, 59 stocks including Aditya Birla Fashion, Intellect Design Arena, Mphasis, RBL Bank, and Persistent Systems saw a short build-up

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Consistent performance and right capabilities should help this mid-cap IT company tackle the ongoing macro challenge

Why we see Persistent Systems emerging as a winner

Based on the OI percentage, 85 stocks including Polycab India, Persistent Systems, RBL Bank, PVR, and Reliance Industries saw a short build-up.

KPIT Technologies, Infosys, Persistent Systems, and Cyient are seen as natural rivals to Tata Technologies.

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Based on the OI percentage, 71 stocks including LTIMindtree, Deepak Nitrite, Ipca Laboratories, Apollo Tyres and Persistent Systems witnessed a long unwinding.

The major trend deciding level for the Nifty is 18300 on the higher side. Any strong close above this level may create a stronger momentum on the upside for the index that may eventually lead the index to surpass its previous highs.

Some more steam still left in IT; TCS, Persistent Systems, HCL Tech likely to lead the sector, says this technical chartist

According to the technical analyst from Anand Rathi, Persistent Systems can advance to Rs 5,250; while Wipro may see faster momentum above Rs 414.

Trading strategies in Persistent Systems, Wipro: Mehul Kothari

Persistent Systems Ltd is quoting at Rs 4936.15, up 2.18% on the day as on 12:49 IST on the NSE. The stock is up 26.14% in last one year as compared to a 4.34% spurt in NIFTY and a 9.13% spurt in the Nifty FMCG index.