Hold Majesco, says Rajat Bose

Rajat Bose of rajatbose.com told CNBC-TV18, "I would say put a stoploss below Rs 350 on closing price basis and one should continue to hold Majesco. What I see is that around Rs 400, there is this 200-day exponential moving average that has not been cleared for many months. Once that is clear then at least a target of Rs 500 would be on the cards."

"I would suggest that instead of looking at six months, be patient because it is forming a base. Now that you have gone through all the pain and when it is about to rise again, why chuck it at this juncture. So please be patient, you will get a price of Rs 500 going forward. Maybe it will take more than six months or maybe one year or so but it would be worth to stay patiently," he added.