Chartist Talk: IT stocks to extend rally? This CEO picks 2 stocks with 20-25% upside potential
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nifty IT charts show a strong reversal signal after a long stretch of underperformance.
- ✓Rahul Ghose of Octanom Tech and Hedged said, "Would use dips to accumulate rather than chase strength in IT sector." He expects the rally to continue and picked two stocks with 20-25% upside potential for investors.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol.com
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
The Nifty IT charts suggest this is more than a relief rally. On the monthly timeframe, Nifty IT has formed back-to-back bullish engulfing candles. That is a strong reversal signal after a long stretch of underperformance, said Rahul Ghose of Octanom Tech and Hedged.
Rahul Ghose is the Founder and CEO of Octanom Tech and Hedged
Would use dips to accumulate rather than chase strength in IT sector
Short-term targets for Nifty 50 at 23,500–23,600, with 22,180 as the key support
Eternal has strong relative strength, higher-timeframe charts are bullish
Market Mastery
Webinar by Vishal Malkan
Find the weak links
in your portfolio by Vishal Malkan
NII02
NSE/BSE Select
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Moneycontrol.com
Read the full, original unfiltered story directly on the publisher's portal.