Break below 35,400 on Nifty IT could unleash downside risk for IT stocks: Rupak De

Nifty IT remains at a crucial technical level, with a break below 35,400 likely to trigger sharp weakness in the sector, while holding above the level could lead to a meaningful recovery. Meanwhile, FII positioning in index futures has been largely bearish, driven more by the lack of a US–India trade deal than the Budget.