Investor Cautiousness and IT Services Sector Projections
Investors remain cautious as the IT services sector is projected to have a weak earnings season. This projection is adding to the cautiousness of investors as they prepare for the opening of the benchmark Sensex and Nifty on January 3. Trends in the GIFT Nifty indicate a negative start for the broader index, with a loss of 70.5 points. On January 2, the BSE Sensex was down 380 points at 71,893, while the Nifty50 fell 76 points to 21,666. The daily charts show a bearish candlestick pattern with a long lower shadow, indicating some buying interest at lower levels. However, the smaller range movement of the past few sessions has been broken on the lower side, indicating a short-term reversal pattern.
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