TCS has target of Rs 1370-1400: Manghnani

Tata Consultancy Services (TCS) has target of Rs 1370-1400, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "TCS is obviously the interesting one and that has been the confusing one for me. Every time I though may be it should correct, it starts to go up again. I think that the general consensus in the market or if there is no other alternative."
He further added, "So much selling has happened in Infosys over the last 6 months. So it seems a lot of that money continues to go into TCS. So I think TCS now is in a fresh breakout above Rs 1300, may be Rs 1370-1400 could be the next range."
"I think HCL Tech will also benefit in this IT move where I think it could head towards closer to Rs 600. I am not overly convinced with the Infosys move. I still think this is a selling zone between Rs 2450 and 2550. So there I’d look to book profits and even Wipro. I think it is just a technical pullback similar to what happened in Infosys last week. So may be around Rs 373 or so becomes a sell again."