Kunal Bothra of LKP told CNBC-TV18, "HCL Technologies is more of a short term bet. The stock is forming sort of inverse head and shoulders pattern and is taking support on 50-day moving average. A lot of IT names which have corrected have taken around 50-day moving average and HCL Tech is one of the very strong candidates there."
"I am looking at a target of Rs 1,180 on HCL Tech with a stoploss at Rs 1090," he said. Also Read: IT industry may grow in range of 12-14% in FY14: NASSCOM Disclosure: At LKP he recommended the stock to his clients.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
