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  • shubham_mishra

    •

    4 months

    VIEWS ON IT SECTOR IN COMING MONTHS?

    In the last 6 months (starting from July 2024) PSU stocks, defence, Railway, Shipping sector have seen massive downtrends and continue to fall. There was too much exuberance in these shares and they hit a high in July (generically). The markets are currently correcting and many other stocks have also corrected a lot. IT stocks in general (ITBEES, persistent, mphasis, TCS, INFOSYS, HCLTECH) have withstood this current fall and have risen well. Today amidst nifty fall TCS managed to stay up by over 5% due to good earnings. TATAELXSI has seen a massive cut in share prices due to poor earnings as well. Other IT Stocks which have corrected are CYIENT, KPITTECH. But in general the stock prices have increased over 6 months in the above mentioned stocks. I missed out on selling all my PSU stocks which became multibaggers and I feel they will fall even more. I feel if there’s a reversal at all the IT stocks might correct in the next phase. Hence I feel I should slowly start exiting the IT Stocks which have given me over 50% returns over the last 6 months. I don’t work in IT, how long can this upmove of IT stocks go on? What’s your opinion? PS: I have been investing from 2020 and I am a long term investor. Long term investing hasn’t given me great results so far. The first 6 months of 2024 gave me a 30% return in portfolio and currently it is 7.58% today. Long term investing and staying put in PSU stocks isn’t working.
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