IT Stocks Plummet: What's Your Market Strategy Today?

• IT stocks faced a severe beating, with Infosys and Wipro ADRs dropping up to 5% due to Anthropic's new AI tool.
• Nifty IT is expected to open 1200-1500 points lower, impacting Nifty by 100-120 points if it falls 4%.
• Despite IT sector weakness, FIIs made significant purchases, and the overall market sentiment is positive, trading above all averages.
• Key support levels for Nifty are 25,641 (50 DEMA) and 25,450 (20 DEMA); a break below 25,450 signals a shorting opportunity.
• Strategy suggests exiting positions in the rally, focusing on quality stocks, and being cautious with unhedged positions due to market volatility and mixed signals from trade deals and corporate results.

Why It Matters: IT stocks are down, but the broader market shows resilience; focus on quality and cautious trading.