HCL Technologies showing a bit of weakness: Deepak Mohoni, Director, trendwatchindia.com

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about the IT stocks.

What are your views on the IT sector?

If you look at the really long term trend in these stocks, they have been always delivering good returns - especially the majors - year over year. But currently the strongest of the lot are running sideways. They are not really taking off and you are seeing a little bit of weakness in stocks like HCL Technologies which closed at a 4-5 week low on Friday.

MphasiS, though it made a bit of a move, has also been slipping downwards. Patni Computers is also showing same signs. Apart from the front line stocks, the second level stocks are seeing a little bit of pressure right now.