Expert takes: Why you can buy Tata Elxsi and avoid Yes Bank

Bose: “I would put a stop loss at Rs 12 and if the level of Rs 12 is broken on closing prices basis one should exit. Not a good stock to hold on forever.”

Shah: “Talking about Yes Bank, I think not the best of the bank to own. We are not very upbeat on Yes Bank and again suggest preferring regional banks names like Federal Bank as a switch from Yes Bank.”

Bose: “HCL Tech has broken all support levels and it can go down further. So I suggest any rally or current levels one should seek an exit unless of course, you are a very long-term investor. Because this sector is now under a cloud, probably there will be more on the downside in the immediate future, then there will be consolidation or further upside.”

Shah: “There are headwinds to the business models of HCL Technologies despite the fact it has a stellar track record over the last 5-10 years. If the stock were to go down lower to say levels of around Rs 900 probably that would be a good area to again chip in and try and cost average.”

Bose: “At the moment, the maximum target that we can envisage is about Rs 9,700. But my point is that if it were to fall from the current levels, that is, if it were to fall below Rs 7,700, then it can actually test Rs 7,300 and below that the 200 day moving average could be tested. This is an uptrend and considering the fact that the kind of chart pattern that is developing it is this way too expensive at this point in time. So any fall below Rs 7,500 should be viewed with caution and at least part profit booking is definitely advocated.”

Shah: “The ecosystem that Tata Alexei has built, I think gives us a lot of confidence that this company can do extremely well. So probably, I think this company could time correct for some time, but as long as they show the growth that they have shown, probably I think I would suggest a hold on this company.”