IT, banking will continue to lead and perform better: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com shares his views on banking and IT stocks.

What about some of the other commodity names because yesterday we were grappling with the possibility of a correction happening in some of the metal names. Are there different chart positions for some like Jindal Steel & Power?

Yes, they have different chart positions. Not only that, the short term sentiment is totally widened. You have one sentiment for stocks like Hindalco and Sterlite. Then there is news coming in for all these mining stocks. So probably it is difficult to make much out of the entire group movement but broadly my sense is that it will be IT and banking which will continue to lead and do better for the markets. If there has to be a breakout above 5150 then it might come from these stocks unless there is some kind of negative surprise coming from Reliance.