Nifty IT index surpassed the 200-day moving average (DMA) for the third time this year, fuelling positive rally in IT stocks. Especially in Wipro and LTIMindtree, where the former crossed the 200-DMA first time, post January 2022 and the latter set a new current year high.
On Tuesday, Barring Coforge and Persistent Systems, all other IT stocks were seen trading in green, maintaining their upward course.
While the IT index had a tough phase last year, where it tumbled 26 per cent, continued efforts to cross the 200-DMA could provide some respite in the current drawdown.
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