The IT sector holds a lot of promise. However, TCS and Infosys are not in a positive signal zone but they have consolidated and the bias is positive, so will continue to perform, said Anu Jain, senior partner, head-equity brokerage at IIFL Wealth Management, on Monday.
“I still see a lot of promise coming into IT which is looking like it’s consolidated since last quarter to this quarter. It seems like this whole quarter post the results were a consolidation period and both TCS and Infosys are not in a positive signal zone but they have consolidated and the bias is positive, so that will continue to perform,” Jain told CNBC-TV18.
“Reliance, we have seen the performance over the last two weeks; in fact, it has been one of the major supporters to the Nifty, not breaking down and it is looking poised towards Rs 2,250-2,300 which is 4-5 percent bias,” said Jain.
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