Book profits in TCS, says Gopi Suvanam

Gopi Suvanam, Founder of InvestWorks told CNBC-TV18, "At these levels I would take profit on Tata Consultancy Services (TCS). One thing you have to keep in mind is that there is a significant build up of positions across the world and people are already talking about a second dotcom kind of a bubble. If tapering continues at this pace or if it fastens then there will be some effect on some tech stocks at least and that will create significant volatility in tech stocks across the world."

"When I look at tech stocks in India particularly I would split them into two categories, one is PE of above 20 and one is PE of below 20. Anything above 20 and which do not see significant growth I would take them out of my position and maybe even go short, but I would still build up positions in tech stocks with PE below 20 like Hexaware, Persistent Systems or Tech Mahindra."