A day after Nasdaq had fallen by more than 3 %, to see Indian IT stocks trading with minor cuts and some even witnessing intraday recovery is something which is probably which indicates more than obvious. This has to be looked at in context of the fact that as a sector IT stocks has been underperforming then why this sudden out performance. Also combine the fact that most of the large IT companies which had been coming out with Q1 results have been better than expected. So, probably it might be the time to shed the bias and look at the sector without recency bias. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
