TCS, Infosys looks good; HCL Tech may rally further: Datta

Datta told CNBC-TV18, "I am reasonably positive on Jubilant Foodworks and on Voltas haven’t seen the movement. In Voltas it is a positive correction meaning the stock is down trending and it is coming back from lower levels. But I don’t think it’s terribly strong yet."

He further added, "IT stocks have done well in the last two sessions. At least there has been certain amount of interest. TCS and Infosys are both looking reasonably good. The uptrend in HCL Tech could probably continue for another session at least."

" Ranbaxy Laboratories has the tendency to make huge one session moves and fall back. So I am not that confident about it. But the long-term trend has been good and you have to breakout at about the Rs 515-520 levels, three weeks to a month ago when things got fairly positive for the stock. Pharma is a strong defensive sector and in a bear market it tends to get fair amount of long-term investor volumes. In Ranbaxy one might be in the kind of trend where you can hold the stock for six months or so."