Buy TCS, says Sukhani

Buy TCS, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Jaiprakash Associates cracked Rs 74. I was upbeat on it, but that was my stop loss level at which point we actually had long positions in it and we closed it at Rs 74 and look where it is at, which is the reason I wanted to give this message to traders, it’s very important to keep stop losses and obey and follow them. It’s a worry. The question was whether it can come to Rs 50. It’s now in a free fall. Stocks in free fall can go anywhere."
He further added, "TCS on paper and theoretically today also remains a buy, but after that very sharp rally the buying should only be done on a consolidation and if these stocks start falling even in small percentages to consolidate then they are not contributing in the next few days to the Nifty. So for the next few days I don’t think IT will contribute."