In a recent analysis, Prakash Gaba, a technical analyst from prakashgaba.com, shared his insights on several IT stocks, including Tech Mahindra, and Godrej Properties.

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Gaba expressed his positive sentiment towards the IT sector as a whole, despite the possibility of unfavorable financial results. He believes that the market has already taken these factors into account and adjusted the prices accordingly.

Gaba specifically mentioned Infosys, stating that it has reached its lowest point at around Rs 1,000. The subsequent rebound from this level indicates to him that the worst is now behind the company.

Gaba also highlighted the positive outlook for Tata Consultancy Services (TCS) and Tech Mahindra, emphasizing that the entire IT sector, including midcap, smallcap, and largecap companies, appears promising. He expressed particular interest in Tech Mahindra, which recently experienced a significant breakthrough at Rs 1,165.

Currently trading at Rs 1,215, Gaba predicts that with some time and space, the stock could potentially reach Rs 1,275 or even 1,300 in the next day or two. The stock is up more than 13 percent in the past month.

Moving to the real estate sector, Gaba mentioned Godrej Properties as a notable stock. The company recently broke out at Rs 1,530 but has since undergone a period of consolidation.

Currently trading at Rs 1,655, Gaba believes that it is only a matter of time before the stock reaches levels close to Rs 1,725, further supporting his positive outlook on Godrej Properties. Shares for Godrej Properties have gained more than 9 percent in the last month.

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