Select IT stocks can be good contra bets; buy on dips for next two quarters: Vikas Jain, Reliance Securities

"The IT sector has been under pressure since the start of April and is down by 25% whereas Nifty50 is up 3% in the same period. Nifty IT index has minor support near 27,300 levels followed by 26,200 where it made a double bottom in June and July."