Don’t panic unless over leveraged on long side; there will be better chance to buy in Oct & Nov: Sandip Sabharwal

“The slowdown in IT spending has happened under situations where interest rates are much lower than what they are today. There are indications rates will go up further. The clear intention of the US Fed is to slow down the economy, create more unemployment so that inflationary pressures are controlled. In this scenario, expecting that IT services discretionary spending actually will pick up next year, is calling it too early and without any basis. ”