Exit HCL Technologies on rise, says Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "If you are a long-term investor then there is no room for frustration. So, I think with that thought I would say three months is not a period for a stock like HCL Technologies because it is in a long consolidation zone, Rs 20-30 stoploss from this level, potential to go up by another Rs 50-60 beyond that right now I don’t see that much movement happening in the next three months as of now it looks like. So, instead of getting frustrated every time it is going to Rs 850 there is no doubt that markets has also supported."He further added, "In the three months limited period, I don’t think so major upside is there. So, probably 5-7 percent return should get the opportunity and get out for a while and wait for some more time."