TCS has support at Rs 1110-1120: Kulkarni

TCS has support at Rs 1110-1120, says Shardul Kulkarni from Angel Broking.

Kulkarni told CNBC-TV18, "TCS is one of the very good charts. Especially if you compare the stocks in the IT space also, one will see TCS as much better chart than Infosys. Infosys unfortunately has given you a breakdown below that Rs 3170 mark, which was crucial for those holding on to long positions." He further added, "In case of TCS on the downside the stock has decent support around Rs 1110-1120 below which you will see a breakdown in that stock also. For those holding long positions Rs 1110 is your stop loss and one hopes that the stock moves up to Rs 1200 if the market actually bounces back to 5600." Disclosure: It is safe to assume that we may have the above stock in our portfolios and we have recommended them to our clients.