Buy TCS with stoploss of Rs 1050: Mehta

Buy TCS with stoploss of Rs 1050, says Jitendra Mehta, AVP Institutional Equity, Edelweiss.

Mehta told CNBC-TV18, "IT stocks have been under selling pressure for last 3 trading sessions, and particularly the likes of HCL Tech or Infosys, which is now trading below Rs 3000 substantially. But then the deeper supports are very much nearby."
He further added, "I think we will see our strong pullback again in the IT names. One can start looking at buying TCS with stoploss of Rs 1050 and Infosys with a stoploss of Rs 2900. Both the stocks are now at buying point." Disclosure: We would have recommended this to our clients and all other people also.