Buy Wipro, Hexaware Technologies: Manoj Murlidharan

Manoj Murlidharan of Religare Securities told CNBC-TV18, "We are running ratio analysis on the weightage on the IT sector. We feel that Tata Consultancy Services (TCS) might not loose ground and we might see good buying come into Wipro. However, importantly at Rs 565 we have seen good cumulative basis of accumulation and possibly today it might come into VWAP concept. We might see an intraday move of 3-4 percent. It is August futures and that is exactly why Rs 565 and expect Rs 588 to Rs 585 is where we might see the expiry for Wipro.At Rs 565, I recommend buying Wipro and the stop loss should be Rs 552." "The other stock I like in IT is Hexaware Technologies. Huge cash buying is happening on a cumulative basis every day. Hexaware is a buy at Rs 277. The stop loss should be Rs 268 and we might see Rs 294 odd where it might expire today which is very much possible," he added.