Buy TCS on dip, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, " Crompton Greaves built a very decent base and broke out of it. These reversal patterns which start will bases and breakout, normally predict significant upside over a medium term, not necessarily in a day or two. That's one reason that a consistent uptrend is visible. It made a new high for this up leg on Friday. So stocks that are making new highs are usually bullish."
He further added, "TCS has been an outperformer. Earlier we had suggested that the IT sector is bottoming out and is likely to lead the next leg and which is what happened. The 5200 to 5400 leg of the rally was led by them. These stocks are not suggesting that they have sort of entered the exhaustion area. So it is quite possible that while something else would come down, IT stocks would continue their momentum on the upside. So TCS is a buy. But for today I would suggest it's a buy on an intraday dip. There is no need to rush and buy it."
