Large cap IT stocks may be going in for slight correction: Deepak Mohoni

ET Now spoke to Deepak Mohoni, Director, trendwatchindia.com, on his view on large cap IT stocks.

Your take on large cap IT on the charts?

These are defensive stocks. So those stocks are attracting a little bit of buying but neither of these stocks had a very good last 1 hour. So they may be going for a slight correction. You take an Infosys, it comes up to about Rs 3100-3110-3120, it is reversed there 3-4 times.

So this is a level it really needs to get passed. We have had about 6 weeks of activity now where it has come to around Rs 3100-3110-3120 and it falls again, that has again happened yesterday. So if we get an upward reversal, you see Infosys at something like Rs 3130-3140, it will be an indication that large caps technology are finally rumbling upwards.