Buy TCS, Bajaj Corp: Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "If you look at the overall IT sector, it has been doing better and if we decompose that then Tata Consultancy Services (TCS) has been in a consolidation for quite some time. We see that the time correction in TCS is now mature and so we expect that breakout should happen. Given the fact that it is already quoting at the lower end of the band, there is a very high probability of an oscillation happening there. So we recommend a buy on TCS for a target of Rs 2,820 and a stop loss can be kept at Rs 2,450.""The second call is a buy on Bajaj Corp. Despite the fact that the market has been moving lower we saw that the stock has been able to sustain at a higher high and given this consolidation has already taken place, now we are seeing a higher high getting reported. So, we expect that the stock can move to Rs 580 and the stop loss for the same can be kept at Rs 465," he said.