LTIMindtree’s daily trend is bullish to sideways. The RSI for monthly, weekly and daily are showing bullish momentum. Based on option chain analysis, the range is between 6000 and 6400. Let’s plan a trade around this.
The EBIT margin or operating margin plunged sequentially to 15.4 percent from 16 percent last quarter, remained below Moneycontrol’s estimates of 16 percent
The BSE IT index has dropped 3 per cent in the last five days against a 1 per cent drop for the Sensex, with Infosys Ltd (down 4 per cent), Wipro Ltd (down 3.49 per cent), TCS (3.17 per cent), Tech Mahindra Ltd (down 2 per cent), HCL Technologies Ltd (down 2 per cent).
For TCS, focus would be on strategic direction under the new CEO. For TechM, focus would be on a possible turnaround under new CEO. Investors could also be looking for a buyback from Infosys and Wipro, Jefferies said.
LTIMindtree said the transformative approach is set to enhance the cognitive intelligence within organisations, setting a new standard for employee engagement applications.