Patni faces resistance at Rs 480: Angel Broking

In a chat with ET Now, Shardul Kulkarni, Sr. Technical Analyst, Angel Broking, shares his investment ideas.

What is the call on Patni Computers?

If you look at the charts of the IT majors, among all the IT stocks, you will see that a sideways consolidation has taken place. Specifically in the case of Patni, you will look at the support on the lower side at the levels of around Rs 440 to Rs 435. That is the range in which the stock has very good support. On the upside, the stock does face a little bit of resistance at the current levels of around Rs 480. So, it is basically a range-bound move. In the IT stocks, we prefer Infosys and TCS, the large cap majors even for the trading perspective as well as from an investment perspective.