TCS may touch Rs 1138-1139, says Kunal Bothra, Sr Technical Analyst, LKP.
Bothra told CNBC-TV18, "TCS and Infosys are probably trying to show that one sort of technical bounce. At least the first signs are showing some sort of a technical bounce. TCS has managed to break the previous last two days high close to Rs 1115 levels. My belief is that the stock might inch up slightly more to Rs 1138-1139 mark where couple of days back had a severe gap down, so it might try and fill up the gap. The performance of the stock later on would be judged if it crosses Rs 1140 levels."
He further added, "In terms of Infosys the gap down which it had was close to that Rs 2,800 level. If you look from the current price action it is quite far - 7-8% from the current price but I would probably look at Rs 2,700 as a physiological mark for Infosys. If it manages to break and trade above that probably for a couple of trading sessions or comfortably during on an intraday basis I would probably go long on Infosys keeping a very tight stop loss of Rs 50."
