IT Stocks Outlook
Near-term view positive; Infosys' FY27 guidance eyed
This story was originally published at 21:20 IST on 17 April 2026
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NEW DELHI – Analysts are positive on stocks of information technology companies in the near term, however, the company's guidance for 2026-27 (Apr-Mar) could lead to readjustment in their valuations. "With the Infosys guidance coming, maybe some fear in terms of the terminal growth rate for the sector will go away. That'll lead to some adjustment in terms of valuations," an analyst from a large domestic brokerage firm said.
Analysts, however, do not anticipate a return to high growth for the sector or a significant rebound in technology spends of clients in the near future.
HCL Technologies Ltd. and Tata Elxsi Ltd. will report their March quarter earnings Tuesday, followed by Tech Mahindra Ltd. on Wednesday. Infosys will disclose its quarterly earnings Thursday.
Next week, the Nifty IT Index is expected to find support near 28300 points while the 34300-level may pose resistance, said Rishabh Srivastava, a reserach analyst at Lakshmishree Investment and Securities Ltd. "Nifty IT is showing signs of a short-term bounce after a sharp decline, but the broader trend remains cautious."
Friday, the key sectoral index ended flat at 31809.85 points. Over the week, the index fell 2.5%. Meanwhile, the benchmark Nifty gained 1.3% by the end of the week.
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Following are the resistance and support levels for key IT stocks for next week as per calculations based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % | Resistance | Support |
| COFORGE LTD | 1,316.80 | 7.60 | 1,348.70 | 1,277.30 |
| HCL TECHNOLOGIES LTD | 1,442.30 | (-)0.60 | 1,471.40 | 1,415.40 |
| INFOSYS LTD | 1,318.70 | 2.00 | 1,339.90 | 1,295.50 |
| L&T TECHNOLOGY SERVICES LTD | 3,490.10 | 1.30 | 3,557.90 | 3,414.30 |
| LTM LTD | 4,753.60 | 5.60 | 4,860.30 | 4,590.90 |
| MPHASIS LTD | 2,462.20 | 5.80 | 2,510.00 | 2,378.60 |
| PERSISTENT SYSTEMS LTD | 5,446.50 | 0.40 | 5,568.60 | 5,319.20 |
| TATA CONSULTANCY SERVICES LTD | 2,581.50 | 2.30 | 2,608.60 | 2,542.40 |
| TECH MAHINDRA LTD | 1,511.40 | 4.90 | 1,550.50 | 1,455.30 |
| WIPRO LTD | 204.32 | (-)0.30 | 208.40 | 200.50 |
| Index | Levels | |||
| NIFTY IT | 31809.85 | 2.50 | 32274.60 | 31179.40 |
| NIFTY 50 | 24353.55 | 1.30 | 24549.70 | 23998.00 |
| BSE SENSEX | 78493.54 | 1.20 | 79085.00 | 77430.50 |
End
Reported by Shakshi Jain
Edited by Akul Nishant Akhoury
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