Buy Persistent Systems on dips: Anu Jain

Anu Jain of IIFL Pvt Wealth Management told CNBC-TV18, "We have Tata Consultancy Services (TCS), HCL Technologies, Tech Mahindra on a breakout, all overbought but not giving up. The relatively weaker chart is Infosys and we have all seen Infosys change the sentiment of the entire market which has come in."

"Infosys is going to give an impetus or take it away from the others but the CNX IT itself at 8352 is looking good for 10 percent over a three-six months period. If Infosys breaks Rs 2935 could bring about an amount of correction into the sector as well as into the market but as of now since it is holding over Rs 3000 I think till it doesn’t break it there is no scope for looking on the negative side," she said. "A stock where the trading quantities are small but which is looking good is Persistent Systems. At about the current levels one can buy if one wants to enter it on dips up to about Rs 635-640. The call is a midterm call, it is a swing call for about Rs 720 which is about 8-10 percent. I think dips to about Rs 640 should be bought in and one can keep a stoploss of Rs 620 given that the market is volatile," she added.