Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "Pharmaceuticals and IT are the two sectors which will start reverting back again on the longer term chart. We do see evidences from most of the statistical models that there is a switch that is happening from pharmaceuticals and IT to other cyclicals like energy, auto and capital goods which has been falling for a long time, it might see a pull-back.""Tata Consultancy Services (TCS) has been in a one year consolidation post which we have seen a breakdown happening. These two weeks' consolidation that we have been seeing, seems to be very temporary in nature. So, we believe that this breakdown which has already taken place 2-3 weeks back, we will see a fresh downside coming in from there and Rs 2,125 is the first target that we see for TCS and a stop loss for the short trade can be kept at Rs 2,470," he said."If at all we do see a pullback happening ahead of the result, with that view, we believe that IT will start underperforming, it will be a good opportunity to take a sell position on TCS and definitely, it is not an intraday call. We are looking for a timeframe of at least 3-4 weeks."
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