Gurmeet Chadha says "it is not that Infosys and TCS are cheap but Infosys already trades at probably 25 times FY 25 and TCS upwards of 30 times. So, a bit of short covering might also happen, especially with respect to Infy. You have got to be selective in IT."
The RSI is a widely-used technical oscillator that measures the magnitude and velocity of recent price movements in a stock. RSI values range between 0 and 100, with readings above 70 considered overbought and readings below 30 considered oversold. RSI is calculated using the average gains and losses over a specified period, typically 14 days. This calculation provides insights into a stock s potential price strength or weakness.
Polycab India, Aptus Value Housing Finance and Mazagon Dock Shipbuilders have all formed a Bullish Harami Cross pattern, which typically appears after a downtrend. The pattern suggests a potential trend reversal, with a small bullish candle indicating buying pressure and a possible shift in sentiment. However, it is important for investors to assess the financial performance, order book and growth prospects of each company before making an investment decision based on the pattern.