Infosys, HCL, Wipro looks weak in IT space: Sharma

Infosys, HCL Technologies and Wipro are looking weaker in the IT space, says Salil Sharma, Technical Analyst, Kapur Sharma & Co.

Sharma told CNBC-TV18, "If one has to be in the IT space its best to stick to the midcap because the frontline all four or five of them are looking like not going anywhere. Tata Consultancy Services (TCS) even though it’s trading with a positive bias it’s just unable to clear Rs 1290-1300 barrier. So, what we understand is kind of aptly valued." He further added, "Infosys is looking very weak and HCL Technology, Wipro all of them are on the weaker side. From the midcap space MindTree is looking good and InfoTech Enterprises is looking good so any of these stocks react once could use that as a native point. Geometric Software also could be added to that list. Infosys which is looking quite dangerous if it breaks down below Rs 2190 it could even head towards a Rs 1950 so if you look at Infosys its given two gap downs, first one came at the last quarterly results came out and the second gap down came yesterday." Disclosures: Whatever we have discussed, we would have a direct or indirect interest in it.