IT space may outperform: Devangshu Dutta

Dutta told CNBC-TV18, " Axis Bank would be high beta in the financial space, Sesa Goa , JSW Steel in metals. In cars, Tata Motors is reasonably high beta. IT is an interesting sector because, IT may outperform the market. It will loose less on the downside and it will climb higher on the upside. In IT GTL , Educomp Solutions would be horrible picks fundamentally. No fundamental analyst would recommend these at the moment but I think if there is a rally they will jump a little more than the sector in general."

He further added, "The best thing is to take an options bulls spread, something like long 4800 call and short 4900 call which would be automatically hedged. Otherwise take a long position in the Bank Nifty and hold because the Bank Nifty is high beta with relation to the rest of the market and hold a stop loss somewhere like 8150 or 8200."