Tech Mahindra is a clear loser: Sandeep Wagle
Mphasis is a good buy looking at a 4-5-6% upside whereas Tech Mahindra is a clear loser.
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| Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, speaks to ET Now about IT stocks.
Do you believe Tech Mahindra will still continue with the lacklustre performance and what are your views on Mphasis BFL?
There is a very clear divergence in the IT space. Mphasis is a good buy looking at a 4-5-6% upside whereas Tech Mahindra is a clear loser. I still see a downside of another Rs. 20-25-30. I would talk of a target of 615-660, currently it is at 660, so we can talk of a 7-8% downside and Infosys, TCS as far as I am concerned, I am not bearish neither am I bullish.
I would only talk of a small trading play but not a very clear pattern, which tells me to get in or buy but at the same time I would not sell as well, so between the two, TCS is one shade better, Infosys is a little sideways.
Do you believe Tech Mahindra will still continue with the lacklustre performance and what are your views on Mphasis BFL?
There is a very clear divergence in the IT space. Mphasis is a good buy looking at a 4-5-6% upside whereas Tech Mahindra is a clear loser. I still see a downside of another Rs. 20-25-30. I would talk of a target of 615-660, currently it is at 660, so we can talk of a 7-8% downside and Infosys, TCS as far as I am concerned, I am not bearish neither am I bullish.
I would only talk of a small trading play but not a very clear pattern, which tells me to get in or buy but at the same time I would not sell as well, so between the two, TCS is one shade better, Infosys is a little sideways.
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