It is not a good time to be a share holder of IT companies. We have outlaid reasons for IT stock softness earlier which you can check in earlier posts. Especially someone secondary player like Tech Mahindra it is going to be really tough going forward. If it has something in it, then it is time to show now. Technical picture is already clouded for the stock but once it starts playing with 400 level, worries start mounting. Because below 400, it will be a drop from the cliff
. A 100 point drop after 400 can't be ruled out. Weakness in IT sector along with topped out general equity market doesn't bode well for the stock.
Please check the links for other posts related to Indian IT stocks.