TCS looks good in IT space, says Mohindar

Mohindar told CNBC-TV18, "Within IT there are stocks which look pretty diametric in nature. Infosys we have seen the big cut Rs 2150-200 has been very good support since 2011 and that’s a level its been consistently holding on to. We are not to far from that number, so if one is trying to put on a new short position or expect severe downside on an immediate basis, that would be a tough call, because from here it doesn’t look like its going to go free falling further. So, probably you will see some support."

He further added, "Within the sector I like TCS. I have been pointing that if one is willing to hold on to it for 6-8 months, I would even peg it at Rs 1350-1400. So, given the current levels around Rs 1200 I would be a buyer in TCS, Rs 50 risk probably a reward which is 2-2.5 times, so totally justified trade there. It’s a calculated risk one is taking, but I am not very negative amongst the IT stock especially after today’s fall."