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Afzal Lokhandwala, Market Commentator, Trader at FinTwit / Social Media, draws attention to steep declines in major Indian IT companies.
Infosys has dropped 24%, TCS is down 20%, and Wipro has declined 14% since his earlier analysis. Lokhandwala cautions that holding stocks purely based on company quality is tough when a portfolio is experiencing such downturns, underscoring that successful investors act rather than rely on belief.
Lokhandwala has previously flagged potential weakness in other large-cap stocks. He noted that Reliance Industries was approaching key support levels. On another occasion, he cautioned that sharp gains in the Nifty500 were followed by a subsequent drop.