Why IT Companies are falling?
IT companies are in function of making software and handling websites. In Indian IT Companies, more than 50% of business is based in the U.S or Foreign countries. The main asset of IT companies is employees and they leave their jobs in IT Companies because the start-up gives a huge package to that industry. Hence under that pressure, IT Companies also have to hike the salary of employees to motivate them to continue. As the main expense of IT companies is salary and due to hikes the expenses of IT Companies increase and profit decrease. That is also a huge reason for the downfall in IT Sector and the other reason is the international market. As mentioned that Indian IT company’s main customer base is U.S & Foreign Countries, so it makes a huge impact if there any huge change occurs in U.S IT companies. Currently the U.S IT Companies like Microsoft, Google, Amazon, Apple, Etc. are down by more than 20% and because of that also Indian IT Sector is down, the correlation coefficient between Dow Jones & Indian IT Sector is 61%. As influenced by U.S IT Companies Indian IT Sector by 31% from the top and the biggest IT Company in India TCS was fallen by 25%, Wipro down by 46%, Infosys down by 27%, Mindtree down by 37%, Tech Mahindra down by 44%. So there is only one chance of recovery of IT Stocks when U.S IT Sector revives and came into a recovery period.
Is it the right time to Buy IT Stocks?
To make comment on Indian IT Stocks first we analyze the U.S market and its IT Companies. NASDAQ is currently down for three consecutive days and it is down by 34% from its high and DJI (Dow Jones Industrial) is down by 21% and forms three big bearish candles for three consecutive days, as it shows that the U.S market is currently down and their averages are also down. As Microsoft & Google are also down by more than 30% and there is less possibility of recovery.

In Indian IT Sector(CNXIT) is currently at strong support and taking retest for a bullish movement. CNXIT already takes support four-time and is unable to break the take level because at that level buyer is super active which makes it impossible to break that level and fell further. Before 5 days a candle formed having a sign of bullish after 4 days market again fall and it comes to retest that level so the bullish movement becomes more strong as it retests. Talking about TCS it also forms charts like CNXIT, TCS is also strong support and currently retesting that level and other Indian IT Stocks are also showing the same behavior. So it may be a great level for buying at low and selling at high but there is only risk is that U.S Companies are continuously falling. If Indian IT Companies also influence then they may see a huge fall in IT Sector. But there is very less chance because the Indian Stock Market is in the phase of recovery and Retesting. Currently, Indian IT Companies are undervalued and it may be a great opportunity to invest in IT Companies but in strategic ways by investing in different IT Companies. Visitors are responsible for their losses website doesn’t take any responsibility.

Recommended IT Stocks
It is above recommended that it is a perfect time to invest in IT Companies if U.S Companies will be in favor. But many investors have questions about in which Indian IT Company they have to invest and in which IT Companies they have to invest so that they can make maximum profit from that. We suggest three IT Companies on the basis of Swing Trade.
- TCS (Tata Consultancy Service)
- Wipro
- Infosys
TCS (Tata Consultancy Service)
As TCS is the company of the Tata Group and is also the biggest IT Company in India, it is falling by 27% from an all-time high. That’s why it is a great opportunity to buy it is also at the support level and it shows signs of a bullish movement. TCS is retesting the level because it already touched that level 5 days before and come again at that level to retest. The retest candle is green which shows the movement of Bullish. Buyers can buy at that market price and set a target of 8-10% and put a stop loss at 2911 below the support level. Visitors follow recommendations at your own risk.
Buy:- Market Price
Stop Loss :- 2910 (3%)
Target :- 3250 (8%)

Wipro
Wipro is always proved a multi-bagger stock for investors. It is a company started by Azim Premji and it’s also a big company in the IT Sector. Wipro faces a huge downfall by 45% from an all-time high, so it may prove the best investment. Wipro is at the edge of the support, today (30/9/22) it almost breaks that support level but after the buyer activities and Wipro closes in green. Investors have to observe the chart of one session, if it goes up then it can be a sign of a bullish trend, and if a bearish candle forms then the market can go down. Visitors follow recommendations at your own risk.
Infosys
Infosys is 2nd largest company of Indian IT Company and it was started by Narayana Murthy, S. Gopalakrishnan, Nandan M. Nilekani, and many more. Currently, Infosys has the same condition as other IT Companies at the support level and has fallen by 30% which creates a great opportunity to buy in dip. Infosys is at the support level which is taken support two times before but it already takes support and is ready to show a bullish movement. Today Infosys take slight support at that level and is ready to go for the upward side. Infosys takes the support and started showing their movement but the investor have still a chance to buy and grab huge profits. Visitors follow recommendations at your own risk.
Buy:- Market Price
Stop-Loss :- 1350 (4%)
Target :- 1555 (10%)
Weightage of the IT Sector in the Indian Stock Market – Click Here