Go short on TCS, may decline to Rs 1350: Jai Bala

Jai Bala of cashthechaos.com told CNBC-TV18, "March to May decline of TCS looks like a directional move. From that point onwards, TCS has come up to a resistance of Rs 1235 in a three step fashion. Yesterday it got very strongly rejected from that resistance."

He further added, "This is probably hinting at a possibility of further decline below May lows. I am trying to go short on TCS and expecting it to decline to about Rs 1350." The company's trailing 12-month EPS was at Rs 38.68 per share. The stock's price-to-earnings (P/E) ratio was 37.75. The latest book value of the company is Rs 165.86 per share. At current value, the price-to-book value of the company was 8.8. The dividend yield of the company was 1.51 percent