See lower levels in Wipro, says Jai Bala

See lower levels in Wipro, says Jai Bala, cashthechaos.com.

Bala told CNBC-TV18, "One has got to be picky in IT space. I though TCS had much more strength than it showed but it started to show some cracks. The midcap IT space is looking stronger than frontline stocks. Even Wipro is showing some signs of fatigue and looks like downtrend is starting there."
He further added, "Even Infosys has come to correct resistance area of Rs 2550-2700 and that is the region where I expect this counter-trend rally to end. I think the frontlines are setting up for a decline whereas the midcaps are trying to catch up with front liners and you have got to be positioning long in the IT space in the midcap space."