Honestly, I'd say stalemate at this point. I don't think either is strong enough to KO/kill the other one. I've watched about 10 episodes of Luke Cage at this point, and, so far, the only thing that has actually KO'd him was
Spoiler:
a rocket, followed by a building dropping on his head. And once he woke up and cleared a bit of space, he literally proceeded to punch his way out of the rubble. We also see that even Luke's own strength + a scalpel, couldn't cut him. And not even the Hulk could actually render Loki unconscious, so...