Keep Rs 497 stoploss in Patni Computer: VK Sharma

Keep Rs 497 stoploss in Patni Computer Systems, says VK Sharma, Head-Private Client Group, HDFC Securities.

Sharma told CNBC-TV18, "Good amount of open interest started – 16% to that and Patni Computer is also a stock which is technically also good. So from that perspective, keeping a stop loss around Rs 497, it is a good bet. I think the VAT thing that has come up in the European Union perhaps is already into the price because that was announced much earlier and it is now coming back again. That will apply perhaps from 2011 onwards. Whatever projects that is there may have been considered so I don’t think that is that long a threat.”