Sell TCS on rise, says Siddarth Bhamre

Siddharth Bhamre of Angel Broking told CNBC-TV18, "We don’t have a very clear cut opinion over here but we are slightly negative on the market from positional perspective. However, will IT underperform or will fall more than high beta space may be not. One stock which we would suggest to short at higher levels is Tata Consultancy Services (TCS), around Rs 2,650 it has strong resistance. With a stop loss of around Rs 2,670-2,680 we would suggest that TCS is a stock in this space which you can sell on rise."

"Infosys might toggle in a range, you will see probably Rs 2,050-2,060 on the higher side and it will be difficult for Infosys to go below Rs 1,900-1,920. So these would be 100-150 point range in Infosys. It is quite liquid stock in option segment so you can play in the range," he said.