Buy HCL Tech at around Rs 980-970: Shardul Kulkarni

Sep 16, 2013, 04.15 PM IST

According to Shardul Kulkarni of Angel Broking, one may buy HCL Technologies at around Rs 980-970 and expects the stock to move higher.

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According to Shardul Kulkarni of Angel Broking, one may buy HCL Technologies at around Rs 980-970 and expects the stock to move higher.

Like this story, share it with millions of investors on M3

Buy HCL Tech at around Rs 980-970: Shardul Kulkarni

According to Shardul Kulkarni of Angel Broking, one may buy HCL Technologies at around Rs 980-970 and expects the stock to move higher.

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Shardul Kulkarni of Angel Broking told CNBC-TV18, "IT stocks have corrected. Rupee has come down from the higher levels of around 69 to 62. It was bound that IT stocks will either move sideways and consolidate or correct in terms of price. So, even if HCL Technologies has move towards Rs 1,000 from the Rs 1,080 mark, it still moves in a very strong higher top, higher bottom cycle."

"Any move towards Rs 980 or Rs 970 over the next couple of trading sessions will qualify as a buying opportunity. I believe that the stock price can move higher over the next couple of days," he said.

Also Read: HCL Info spikes 16% on possible merger talks with HCL Tech

Disclosure: It is possible that we have positions in the stock discussed and we have recommended them to our clients.

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