In an interview to CNBC-TV18, market experts Prakash Diwan of prakashdiwan.in and Mitessh Thakkar of mitesshthakkar.com discussed how the markets fared in trade today. They also answered viewer stock queries.
Answering a viewer query on Tata Consultancy Services (TCS), Diwan said, “Today’s correction apart from the rupee strength was 5-day rally that saw some profit booking which is across the board. So I do not think there is need to get worried about any change in fundamentals for TCS. What is happening in the US on IT companies is more product play, more issue related to their regulatory environment which does not need to be sympathetic to the likes of TCS and Infosys. So stay put; I think IT will continue to be one of the key go-to sectors when the global melt down happens because this is one pocket which the US and China tariff war cannot impact so negatively. So, at this point in time I would not recommend anything to do except for hold.”
On Sun Pharmaceutical, Thakkar said, “The fall in the last few months, the long term charts have been damaged. I do not see a chance of recovery happening very soon. So if it is a time horizon which is less than 12 months, then you should exit and possibly look into getting into stocks like Petronet LNG or a CESC which are showing medium term uptrend with 12-18 months horizon.”
They also spoke at length about Ambuja Cement and Balrampur Chini.
Follow stock recommendations by Mitessh Thakkar here:
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