Tech Mahindra, wait and watch: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, gives his call on Tech Mahindra


What do you do with these two stocks, Tech Mahindra and Mahindra Satyam, up 6-6.5% for Tech Mahindra and close to 15% for Mahindra Satyam?

Maybe the bankers are buying today but given the sentiment on tech, you want to be careful. You would like to confirm the news before going ahead and buying on something like this. Tech Mahindra overall between Rs 600 and Rs 780 has been a range. Even when tech was doing well, Tech Mahindra was not doing as well. Mahindra Satyam, Rs 60-90 is a range, either you buy around Rs 60 where it becomes kind of risk free or you buy above Rs 90 and then you trade it up to about Rs 120 because in one day, Mahindra Satyam more or less has reached the higher end of the bank. There will be several rumours before the real thing happens, so I would not pay too much attention, particularly because sector is weak.