TCS has target of Rs 1400, says Rikesh Parikh

TCS has target of Rs 1400, says Rikesh Parikh, Motilal Oswal Financial Services.

Parikh told CNBC-Tv18, "TCS has been fairly sideways and today it has broken out. So keeping Rs 1310 as a stop loss it can again go back towards Rs 1400 on the upside. So keeping Rs 1310 as a stop loss from a short-term point of view one can look at a target of Rs 1400 on the stock.
He further added, "Bank Nifty is surprising, showing slightly divergent view compared to Nifty. While Nifty is holding on, Bank Nifty is showing slight weakness largely because of its two major component HDFC Bank and State Bank of India are not performing today. It might be showing slight weakness but by any chance if HDFC Bank starts moving up then it can cover up. Here also like Nifty it has been trading in a narrow band. So once it moves out it could be major. But probably for the day as of now it looks like Bank Nifty is relatively weaker compared to Nifty."