TCS may dip to Rs 2500: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Tata Consultancy Services (TCS) has stopped out. It is quite unfortunate because in late April and early May, this stock had given a strong remarkable rally, recovery but I feel that it has stopped out because it has given a breakdown from a rising wage pattern."

He further added, "We can also see patterns of lower highs and lower lows on the long-term charts and it tells us that lower levels are coming. In fact, in the entire IT basket and Infosys is also looking for a deep correction from current levels. I think TCS could see levels of Rs 2,500 in the near-term."

Disclosure: Analyst might have recommended above stock ideas to his clients but no personal holdings.