Stay away from midcap IT space: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that one should stay away from midcap IT space. Sukhani told CNBC-TV18, "My impression is that the same old story is getting repeated. There is a group of market participants whom we call operators, which is now managing the prices; we saw it happening with Polaris last month in February. Polaris jumped up from Rs 36 to Rs 55 and surprisingly it came back to Rs 35." He further added, "So, my impression is that NIIT, Firstsource and MindTree are not the stocks that we want to trade in and certainly not to buy. The idea is just stay away from this segment itself. There are a number of blue-chip stocks where buying opportunities are coming and will come, but this is not that area - smallcap should be avoided anyway." Source: Moneycontrol