Many of you must be wondering why I'm so so bullish on IT stocks, especially when all the other sectors are performing so well while the IT stocks continue to stoop to new lows! Well, here I take a chance to showcase you some of my reasons for being bullish on IT:
1) Decreasing dependance on U.S. economy; future growth to be driven by outsourcing work from the European and Asian countries.
2) A stabilizing money --- I suspect RBI is giving rupee a helping hand because I feel that without governmental influence, rupee will find resistance against dollar only at Rs. 35-Rs. 36 mark.. It appears as if there are certain market forces which are buying exceptionally high amounts of dollars, in $ billions, to keep the exchange rate above Rs. 39/$ ...
3) U.S. is slowly waking up to the realisation that it may be entering another period of recession. To avert such a situation, the Fed bank has hinted at another round of rate cuts. This should boost the economy while other measures, in discussion at the Congress, should serve to revive the economy further..
Oopsies.. Got to cut my post here only.. My battery is almost dead.. More on the IT space tomorrow people!! Goodnight and sweet dreams!
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