For current slow global growth environment, Indian IT companies profitability has plateau. When clients can only keep the profitability only by cost cutting, it is going to be very tough environment for big Indian IT companies to get juicy contracts. Their profitability is going to reduce a lot in coming days. Only thing can keep them buoyant is the incessant supply of cheap labor.
Technically speaking, we are looking for 400 - 440 for Wipro stock in coming days / weeks. Whether it comes to that is not sure but our advantage in trading Wipro is only within such parameters. From there we will trade it from long side, at least for short term and then will take it from there.
Other IT related trades in Infosys and TCS are working as prescribed !