Short Tech Mahindra, buy HCL Tech: Gopi Suvanam

Gopi Suvanam of InvestWorks told CNBC-TV18, "When it comes to IT stocks I split them into two categories, one with P/E above 20 and other with P/E below 20. I want to short because I think there will not be a fundamental big move otherwise. So I want to short stocks with P/E greater than 20 and then long stocks with P/E less than 20."

"Tech Mahindra is one stock I am looking to short and against that as a pair trade one can look at buying HCL Technologies or we can also look at midcap names like Mindtree. So that can be a good pair trade," he said.