Midcap IT stocks are short-term plays: Deepak Mohoni

ET Now spoke to Deepak Mohoni, Director, trendwatchindia.com, on his views on the market.

ET Now: In the midcap IT space, stocks like Sasken, which did fairly well day before yesterday, are not doing much in trade today. Mastech, too, a lot of people have talked about bottom fishing at lower levels. Anything in the midcap IT pocket that seems interesting?

Deepak Mohoni: Well these stocks are just pretty much short term plays. You had moves from Hexaware couple of days back that started correcting as well, so I think provided the market permits them by continuing on some sort of a rally, these stocks which are now correcting. Sasken is down 5% today, as is Hexaware.

After fairly strong run ups, they could be caught on the next leg up once they start going up again, so I think good to put them on the watch and see if they start going up. If they start going up, the moves can be short and swift which is exactly what a trader would look for.