Promising Signals from FSL and HCL Tech. FSL has delivered a 202% return in two years, while HCL Tech has shown a 20% recovery. Investors should keep a close watch on both these stocks.
IT Stocks: If you are considering investing in the IT sector, you should pay close attention to FSL (Firstsource Solutions) and HCL Tech on Monday, April 28th. Both stocks have recently shown positive signs, and experts believe they could be good options for long-term investment.
Indication of a Bullish Trend in the IT Sector
Although escalating tensions between India and Pakistan briefly impacted market sentiment, the IT sector still registered a 0.72% increase on Friday, closing at 35,562.25. Experts believe the Nifty IT index may see further gains in the coming weeks.
Rajesh Palvia's Insights
According to Rajesh Palvia of Axis Securities, if the Nifty IT index sustains above 34,500-34,800, further gains are likely. He suggests a potential 3% to 4% increase in IT stocks over the next few weeks, highlighting the importance of monitoring these stocks.
Firstsource Solutions (FSL) Performance
Firstsource Solutions (FSL) has delivered a remarkable 202.43% return in the last two years and 936.05% over five years. The stock has begun trading above its short and long-term moving averages, a b bullish signal. From a technical perspective, FSL could break above ₹355 and reach ₹405 in the coming month. The stock closed at ₹349.15 on Friday.
HCL Tech: An Excellent Opportunity for Long-Term Investment
HCL Technologies has recovered approximately 20% from recent lows, a b positive indicator. This recovery stemmed from a crucial support zone, and experts believe this stock could be an excellent long-term option. Therefore, investors can consider buying HCL Tech on dips, especially while it continues to display positive technical signals.
What Should Investors Do?
If you're considering investing in the IT sector, FSL and HCL Tech are currently b contenders. Experts suggest these stocks could see further gains in the coming weeks, potentially yielding substantial returns for investors.
