Our view has been quietly and steadily constructive on Nifty IT since May 14th, and thankfully, the sector has been playing out beautifully. In fact, right on the heels of that call, we shared tactical long trades on Infosys (INFY) and Wipro on May 15th—both of which have now officially nailed their initial target objectives.
But if you think this move is done, think again. We are far from the finish line as far as Nifty IT is concerned. As I emphasized back on May 14th, this sector possesses incredible structural potential to lead the broader markets higher, and it is doing exactly that. IT leadership is officially back, and its role in lifting the entire index to its next leg is likely to unfold pretty soon.
The Immediate Roadmaps: INFY & Wipro
For the immediate term, both heavyweights are running hard toward their next major resistance zones. Once these levels are cleared, it opens up significant structural upside:
- Infosys (INFY): Currently hammering against an important resistance level at 1,300. A clean, decisive cross above this opens the floodgates for a rally toward 1,360, and eventually 1,430 positionally.
- Wipro: Facing its immediate line in the sand at 215. Once the buyers take out this hurdle, the stock is primed to test 230 and 242 positionally.
The Medium-Term Playbook
The broader takeaway here is all about strategy shift. Positionally, for the medium term, the entire IT pack has officially transitioned into a robust “buy on all dips” sector.
Any near-term cooling off or intraday pullbacks should no longer be feared; instead, they should be treated as classic accumulation windows. The sector has finally found its rhythm, the leadership is locked in, and the larger cycle is just starting to flex its muscles. Let’s see how they handle these immediate resistance levels over the next few sessions!
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