Infy, TCS, HCL Tech: Are IT stocks due for a rebound? Charts say this

IT stocks have witnessed a steep fall in the last four months as profit-taking set-in after the Nifty IT index scaled new life-time highs.

The Nifty IT index has plunged over 22.3 per cent from its record high of 46,089 hit in December 2024 to a low of 35,805 this month. In comparison, the Nifty declined 11.6 per cent from its December high of 24,858 to a low of 21,965 earlier this month.