Sell Wipro, Tech Mahindra: Kunal Saraogi

Kunal Saraogi of Equityrush told CNBC-TV18, "One could selectively sell IT for a very short-term kind of trading bet. Wipro can be sold at the current level. Tech Mahindra which hasn’t corrected too much can be sold for a bit of a correction play. However, I do not really expect for their long-terms trends to reverse. It is just that there can be a short-term trading decline in almost all of these stocks. So IT can be sold for a short-term trading profit."

At 14:05 hrs Wipro was quoting at Rs 571, down Rs 7.20, or 1.25 percent. It has touched an intraday high of Rs 580.50 and an intraday low of Rs 570.30.