Upside for tech stocks difficult in near term: Avinash Gorakssakar

In a chat with ET Now, Avinash Gorakssakar, Head of Research, Miintdirect.com, talks about tech stocks.

ET Now: Do you think there is more upside for the tech sector?
Avinash Gorakssakar: In the near term, it looks difficult. If we have a very strong government formation happening, there is no doubt that the rupee could further appreciate. I would say that of real interest for the market participants would be the rate sensitives. Probably given a kind of range, IT stocks would not be going very up or downwards. But clearly, the rate sensitives is where the action would be.

So I would be slightly cautious, considering the fact that now after a very long time you could see some sort of action on the infra, on the capital goods, on the rate sensitives. So that would be my choice.