Go long on TCS, says Dutta

Devangshu Dutta, Consulting Editor of Outlook is of the view that one can go long in Tata Consultancy Services. The stock can test Rs 1550-1570.

Dutta told CNBC-TV18, "Tata Consultancy Services (TCS), is probably likely to at least test its 52 week highs which is in the range of Rs 1,550-1,570 range. This is a reasonable place to be long on the stock." He further added, "HCL Technologies is more volatile but it looks bullish. If it breaks out beyond Rs 810-815 it could go up to Rs 1,000 or something. It looks like a strongly bullish stock. One did have a bit of selling after the results but it is pulling back, it is recovering." Tata Consultancy Services closed at Rs 1,429.10, up Rs 52.85, or 3.84 percent. It touched an intraday high of Rs 1,433.55 and an intraday low of Rs 1,374.00. There were pending sell orders of 1,522 shares, with no buyers available. It was trading with volumes of 175,595 shares. HCL Technologies closed at Rs 737.45, up Rs 16.40, or 2.27 percent. It touched an intraday high of Rs 749 and an intraday low of Rs 721.50. There were pending buy orders of 3,678 shares, with no sellers available.It was trading with volumes of 74,304 shares.