Buy Tech Mahindra, Mahindra Satyam on dip: Shardul Kulkarni

Shardul Kulkarni, senior technical analyst at Angel Broking told CNBC-TV18, "I have a buy on Tech Mahindra. The reason is that the chart is quite good. We are seeing that Mahindra Satyam as well as Tech Mahindra, both qualify in the list of buy on decline stocks."

He further added, "Going forward we may see the stock move to around Rs 1,040-1,050 levels. I hope that the rupee actually helps in this particular move. So, although there is some consolidation which is going on in case of the rupee, today the rupee has actually given a very strong depreciating trend." "Going forward, further depreciation in case of the rupee can be seen which will be beneficial for IT companies, amongst which, Tech Mahindra will be a good bet to play on the long side," Kulkarni said.