Buy Tech Mahindra, Wipro: Manoj Murlidharan

Manoj Murlidharan of Religare Securities told CNBC-TV18, "IT has around 6 percent weightage in the marketwide open interest (OI) and we are expecting that to come to 7.2 percent. So there would be a marketcap increase,which has happened in IT."

"Tech Mahindra and Hexaware Technologies would be the top picks. We feel Tech Mahindra is a buy even with the current month futures with a stop loss of Rs 630 and we are expecting it to go to Rs 720, which would be the initial target," he said.

"We like Wipro as well. At current month futures we can buy it with stop loss at Rs 604 and the initial target of Rs 658 is what we are expecting on that as well," he added.