There's no doubt that IT stocks had a massive rally since COVID crash and today it had fell by almost 3 percent. So is it profit booking or trend reversal? I heard some of them speaking about sectoral rotation from IT sector to Auto sector but I'm not in their side because IT sector are backbone of the economy, as long as economy is doing great they continue to rise and i don't think our India is going worse and also if the economy is going to get worse Bank sector will fall first which doesn't happen in our case, even Bank Nifty showing some bullishness.
I accept the fact that there might be a big rally in Auto stocks because of report saying that semiconductor shortage may be resolved in H1 FY22 and also due to festive season but it doesn't make sense in Trend reversal of IT sector.
It looks like small profit booking by institutions, I'm bullish on it for a longer time frame of about 5 years and i too had invested in IT ETF. So continue to invest in IT stocks if you're bullish in it.
I accept the fact that there might be a big rally in Auto stocks because of report saying that semiconductor shortage may be resolved in H1 FY22 and also due to festive season but it doesn't make sense in Trend reversal of IT sector.
It looks like small profit booking by institutions, I'm bullish on it for a longer time frame of about 5 years and i too had invested in IT ETF. So continue to invest in IT stocks if you're bullish in it.