TCS has target of Rs 1220: Hemant Thukral

TCS has target of Rs 1220, says Hemant Thukral of Asian Markets Securities.

Thukral told CNBC-TV18, "Clearly, technology if you just check one week back data it was looking quite weak. But last 3 days they have seen lot of buying coming, buying support coming from lower levels especially both the majors Infosys and TCS. Now that is being reflected in the rollovers also."
He further added, "TCS rollovers is above average, clearly indicating that the way the stock has run up momentum is maintained. You can see a target of Rs 1220 on it. Similarly, on Infosys Technologies the target should be Rs 3340. Both of them have seen positive cost of carry rollovers moving forward. So clearly suggesting the IT majors, both of them have seen some supportive buying, momentum can continue in April series also."