IT stocks will remain under pressure: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks to ET Now on IT stocks.

HCL Tech is trading at the lowest point of the day, but I am just wondering whether the broader IT space all the other large caps as well are showing a similar trend or is this specific to this one counter?

No it is not specific. It is going with the theme that all the tech stocks and the metal stocks will face pressure because of global jitteriness and what we saw was a pullback rally.

Now that is over and chances are that most of these stocks will go through that previous lows that includes stocks like Infosys, HCL. TCS may hold on to its lows by a whisker but overall all of these tech stocks will remain under pressure.