Exit from IT stocks: Murlidhar

Manoj Murlidhar, Head of Derivatives, IIFL PReMIA, IIFL Link feels investors should exit from IT stocks.

Murlidhar told CNBC-TV18, "The stats as per what derivates are saying I would see IT is a sector you should be booking a profit because we have not seen much cash based buying because ideally any sector for it to sustain an up move now ideally if you just see buying in derivative side so it will give you a trend possibly of 4-6% but later on due to lack of cash based buying you would see the sector actually correcting later on when the Nifty tries to hit a resistance. So I feel exiting IT at these levels should be a priority traders should be doing."