The market may retain its gradual upward trajectory, given healthy technical indicators. Below are some short-term trading ideas to consider.
Prabhudas Lilladher recommended accumulate rating on Mphasis with a target price of Rs 2920 in its research report dated July 25, 2025.
Macro improves late in quarter, but recovery across segments remains uneven
The market may attempt to continue its upward journey amid rangebound trading in the upcoming sessions. Below are some short-term trading ideas to consider.
Stocks to watch, 6 June: Stocks like Khadim India, 3B Films, Hilton Metal Forging, KCP, Imagicaaworld Entertainment, Coal India, JSW Energy, Praj Industries, Ashoka Buildcon, Bajaj Finserv, Aditya Birla Fashion and Retail, Chambal Fertilisers and Chemicals, and Manappuram Finance will be in focus on June 6.
The sharp fall in the share prices pushed the Nifty IT index down over 1 percent to hover around 36,948 in the morning, extending losses for the second consecutive session.
The sharp rise in share prices pushed the Nifty IT index up nearly a percent to emerge as the top sectoral gainer on May 29.
Credit rating agency Moody’s has become the latest credit rating agency, after Standard & Poor’s in 2011 and Fitch in 2023, t
Strategic deals and steady growth in uncertain times
Anand Rathi is bullish on Mphasis has recommended buy rating on the stock with a target price of Rs 3008 in its research report dated April 28, 2025.
Motilal Oswal recommended Neutral rating on Mphasis with a target price of Rs 2700 in its research report dated April 25, 2025.
Prabhudas Lilladher is bullish on Mphasis has recommended buy rating on the stock with a target price of Rs 2860 in its research report dated April 25, 2025.
In the case of Bank Nifty, Sudeep Shah of SBI Securities believes the presence of strong support levels and overall positive structure suggests that the index is unlikely to undergo a deep correction in the immediate term.
JP Morgan says while it doesn't recommend buying IT stocks, but conservative guidance by the companies would give a good entry point later. Market veterans like Prashant Khemka said they don't take big investing calls based on macroeconomic outlook.
Mphasis reported a subdued performance in Q3FY25, primarily because of seasonality and cross-currency headwinds.
Indian IT stocks extended their winning streak, with the Nifty IT index gaining 1.8 percent, led by midcap players such as L&T Technology Services, Coforge, and Mphasis.
Anxiety mounts that Trump's tariffs and government firings will torpedo growth in the US economy, leading to muted growth for expert-oriented IT stocks.
Mphasis' Ravi Vasantraj believes IT firms will have to adapt to new models with shorter deal cycles, AI-driven automation, and a shift towards business outcomes.
Motilal Oswal recommended Neutral rating on Mphasis with a target price of Rs 3200 in its research report dated January 24, 2025.
Prabhudas Lilladher recommended accumulate rating on Mphasis with a target price of Rs 3200 in its research report dated January 24, 2024.