FATE OF I.T. STOCKS

Hi Friends,

While the Broad Market has been slashing since Jan 2013 I.T. has been the place to hide. I.T. stocks are outperforming the Market and have produced superior returns over a year. But How Long This Out-performance will continue?? Technical charts suggest this I.T. Boom is perhaps over and I.T. stocks are ready to take a hard crash over a year.

BSE I.T. INDEX

BSE I.T. INDEX

The Index seem to have completed a Huge Diagonal and looks ready tumble from the sky. Upside if any looks limited to 8200.. But the Index faces huge Downside risk of 4500 over a span of 12-15 months..

HCL TECH

HCL TECH

HCL seem to have completed its 3rd Wave inside Extended (III)rd Wave.. And it may now retrace to 850 in 4th of the Extended (III)rd Wave. 5th of (III)rd may again head towards 1100. Post Completion of (III)rd stock may fall to 670 in Wave (IV).

INFOSYS

INFY

INFY seem to have completed the corrective Rally in B/X Wave at 3173.. Stock is taking resistance of the Long Term 2-4 trend-line.. And upside looks very limited to 3210. The stock is expected to crash to 1200-1000 in it's Y/C Wave over next 12-15 months.

TCS

TCS

TCS seem to have completed a 5 Wave move from the 2009 lows.. 5th achieved the Wave Equality to 3. So the Stock might be ready to correct to 1160 over next 12-15 months.

WIPRO LTD

WIPRO

WIPRO seem to have completed the corrective Rally in X wave at 492. And upside looks very limited to 500. The stock is expected to crash to 270 in it's Y Wave over next 12-15 months.


Thanks & Regards,

Harsh Dixit.