Parag Doctor, Head - Trading Strategies, Keynote Capital's Ltd is of the view that one should hold on Tata Consultancy Services. The stock can touch Rs 1625.
Doctor told CNBC-TV18, “Investor should hold on to Tata Consultancy Services, (TCS) right now. We have a target around Rs 1625 kind of levels for TCS. We have been bullish ever since it broke past around the Rs 1500 kind of mark and still there is no sign of any let up in the upside momentum. We had an initial target of Rs 1600 which is almost achieved and probably it can go to Rs 1625 or so before some kind of correction sets in. So investor should definitely hold on to TCS and he can add on 4-5 percent dips which come from time to time. It would be a good time to really add to TCS and it is a core IT holding in any portfolio and for long-term it is going to give at least 15-20 percent compounded returns. So one should hold on and add on every dip.”