IT sector continue to outperform: Ankit Doshi

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Nitin Rakesh positive on IT space Nifty BSE | NSE 09/02/12 Are Mutual Funds betting on Nifty?

IT sector will continue to outperform, says Ankit Doshi , Equity Derivatives Sales, Antique Stock Broking.

Doshi told CNBC-TV18, "On the IT sector now the much spoken about dollar index. We had a strong view that, from 75 levels we will see strong resurgence coming through. From current levels of 77 we feel that it will move sideways and then it would eventually move all the way up to 80-81 levels. So, essentially a weaker currency will yield better off for IT, so it could act as one of the trigger. The second would be better than anticipated results that we need to watch out for."

He further added, "On derivatives front on open interest (OI) per se, in TCS we have seen a short covering of 15% OI with a price rise and in Infosys there has been an increase of 33% aggregate OI with a price rise. So I believe, this sector has performed and they will continue to outperform the broader market."