IT stocks facing weak demand, AI risks threaten outlook: Analyst
The Nifty IT index trades below all key moving averages after a failed April rebound, with April 23's gap now critical support, analyst Mayank Chandel warned. Weak global demand, frozen hiring, and AI-driven automation threaten sector stability. Stocks like TCS, Infosys, HCL Tech, and Wipro hover near key supports, making upcoming moves decisive.