“Sudeep Shah of SBI Securities maintains a bearish outlook on the Nifty IT Index. He notes the index's weak technical setup, trading below key moving averages, and persistent underperformance, reinforced by bearish derivatives data showing fresh short build-up. Shah expects the index to remain cautious with rallies facing selling pressure, highlighting 26,100-26,200 as crucial long-term support, a breach of which could trigger further selling, while a sustainable reversal requires reclaiming 27,950-28,000.”

Sudeep Shah’s track record: 14 graded calls · 95% CI 16–61%