IT stocks look reasonable: Dhiraj Agarwal

Dhiraj Agarwal, Independent Market Expert told CNBC-TV18, "I don’t see much downside in IT from here and as Cognizant results yesterday sort of indicated that it is not that much of a macro problem. There was probably some slow down in some pockets, that was some client issue specific, but in general the IT growth will continue. It is tough to say whether we will see another 2-5 percent downside or not but by and large IT stocks look reasonable at these prices."

At 12:08 hrs Wipro was quoting at Rs 545.50, up Rs 3.80, or 0.70 percent. It has touched an intraday high of Rs 548.40 and an intraday low of Rs 541.60.