Rahul Mohindar cautious on IT space

Rahul Mohindar, viratechindia.com is cautious on IT space.

Mohindar told CNBC-TV18, "I would still be very cautious in IT. I still think a stock like Wipro could show you 5-6% downside in the near term. I know TCS could be a longer term favorite but again in the near term they continue to look under pressure. So be it an Infosys or be it a Wipro I think most of the big names within the sector look a bit vulnerable  specifically on the short term."
He further added, "If one takes a horizon of probably 6 months to a year he may start accumulating as the market declines may be 5-6% but again from a trading perspective from someone trading really September series, I would clearly avoid IT for now."