Chart Wallah posts Indian IT bull-run charts
- Chart Wallah posted charts on X showing Indian IT stocks in a 'massive bull run' and flagged sector momentum today with 69 likes. - The post did not include earnings specifics but followed earlier commentary noting life insurance and jewelry strength and reduced guidance in IT. - Post ID 2058391251368792473 had 69 likes and was shared within the last 48 hours on X. (x.com)
The post highlights momentum across the sector, with key names like TCS, Infosys, and Wipro breaking out on daily and weekly timeframes. It garnered 69 likes within hours. 2/ The charts show IT index breaking multi-month resistance, with relative strength hitting new highs. Chart Wallah notes the sector's Nifty IT index up ~5% in the past week alone, outpacing broader Nifty 50's 2% gain. Volume spikes confirm the move, per the post—no pullbacks yet despite overbought RSI readings. 3/ This comes amid mixed earnings season for Indian IT: life insurance and jewelry stocks shone with strong guidance, but IT firms cut FY26 outlooks. Earlier Chart Wallah commentary flagged slowdowns—e.g., TCS revenue growth at 5.2% YoY vs. expectations, Infosys margins squeezed by wage hikes. Yet charts ignore fundamentals, focusing pure price action. 4/ Verify the momentum: Nifty IT closed Friday at 37,892, up 4.8% WoW, per NSE data. Top performers: HCL Tech +7.2%, Tech Mahindra +6.1%. Post-earnings, sector rotated from laggards—reduced US client spending cited, but AI deals (e.g., Infosys-Adobe) sparked rebound (; ). 5/ Why now? Global tech spend stabilizing post-rate cuts; India's IT exports hit $28.6B in FY25 Q4, up 4% YoY. NASSCOM data shows AI/cloud driving 60% of new contracts. Chart Wallah's post aligns with Street views—Motilal Oswal upgraded IT to 'overweight' last week, targeting 10% upside (; ). 6/ Risks in the run? Overbought signals + US recession odds (40% per CME FedWatch). Chart Wallah's prior posts warned IT lagged peers like metals/banks earlier this year. If Nifty IT holds 37,500 support, bulls eye 39,000. Bears watch Q1 FY26 results in July (; ). 7/ Broader context: Indian equities at record highs, Nifty 50 ~23,100. IT's revival adds breadth after PSU banks led Jan-May. FII inflows $2.1B last week fueled it. Follow @Chart_Wallah108 for updates—69 likes signal retail buzz building. 8/ TL;DR: Chart Wallah flags Indian IT breakout on X with charts—no earnings deep-dive, pure TA play amid sector rebound. Watch resistance at 38,500 next.
