Prefer IT stocks, says Gaurang Shah

Gaurang Shah, VP at Geojit BNP Paribas Financial Services told CNBC-TV18, "State Bank of India (SBI) and ICICI Bank are the largest player in the respective category one from the public sector bank State Bank of India and the other from a private sector ICICI Bank. As a disclosure we have a positive coverage on both."

"One may look at IT or pharma and in IT you can look at right from the big boys Tata Consultancy Services (TCS) and Infosys, HCL Tech to Tech Mahindra you can pick over here. The other one would be Persistent Systems in the IT pack," he added.