Global markets have been quite negative. Indian markets have also been negative primarily on account of global issues led by tax issues on FDI. Auto results have been on the negative side and the earnings have also been quite mixed. IT was the only sector which moved up while the sectors which were down were media and metals.

Nifty looks volatile with a negative bias primarily on account of mixed results. Trade stock specific and trade with extreme caution.

HCL Tech is a buy with target of Rs 1210 and stop loss at Rs 920 for an upside of 19 percent. The company has given strong FY19 earnings. Performance has been good in terms of 19.5 percent YoY growth in terms of revenue. There is strong growth in the digital and core services area. They have done good planning in terms of products and platform business. HCL Tech has a long term growth trajectory plan. It trades at a decent valuation at PE of 14x compared to industry PE of 23x, said Dinesh Rohira, CEO and Founder, 5nance.com