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Informist, Friday, Jun. 12, 2026

NEW DELHI – Analysts have ruled out broad-based gains in stocks of information technology companies but believe some recovery is likely in the near term, especially if the borader markets perform well. "IT sector is not going to become a darling sector as of now at least. But yes, some recovery is certainly possible and the global capability center boom is also likely to reshape the industry...Apart from that, the data center investment cycle is also witnessing a big boom...So eventually this sector will attract some buying," said Sugandha Sachdeva, founder of equity, commodity, and currency research firm SS WealthStreet.

While the artificial intelligence-led disruption and monetisation of investments in the area are strong themes on one end of the discussion, tie-ups with global giants such as OpenAI and Anthropic, the boom in global capability centres, and focus on AI-led enterprise solutions are seen as positive factors for the sector.

This week, in a signal for the larger industry, Tata Consultancy Services Ltd. Chairman N. Chandrasekaran said as the cost of intelligence falls, many more processes, decisions, and interactions in many more industries will become candidates for AI-driven transformation. He forecast that over the next three years, TCS will have as many AI agents as human employees. The sector bellwether said it had partnered with Anthropic to scale up adoption of enterprise AI. The company also announced a partnership with Oracle to launch Oracle artificial intelligence data platform lab and centre of excellence in Kolkata, West Bengal.

Sachdeva said IT stocks did not see significant upside momentum after the March quarter results because of weak revenue growth guidance by companies, however, going forward she sees some value buying opportunities, especially in blue chip stocks.

Coming week, the Nifty IT index is expected to find initial support at 27130 points and face resistance at 28230 points, according to Ganesh Angaj, head technical analyst at NVS Brokerage Pvt. Ltd. Beyond these levels, Angaj estimated support and resistance at 26860 points and 28800 points, respectively.

Friday, the key sectoral index ended flat at 27795.75 points with half of the index constituents ending the day in the red. It dropped over 4% during the week, closing each session of the week in the red.

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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:

End

Reported by Shakshi Jain

Edited by Deepshikha Bhardwaj

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