Infosys may slips to Rs 1400: Gujral

Technical Analyst, Ashwani Gujral is of the view that below Rs 1536 Infosys may slips to Rs 1400.

Gujral told CNBC-TV18, "Last time around I had mentioned that if the next downdraft starts, probably technology stocks would lead it and that is how it is playing out. Now that Satyam has broken below Rs 425, it could be now headed towards Rs 360. Below Rs 1,536 even Rs 1,400 is a possibility for Infosys."

He further added, "For crude we try to play HPCL, BPCL for the US financial sector, I think this is a good proxy. So probably there is more downside in this sector than a lot of other sectors. We might see more downside coming into technology stocks."

Disclosure: Analyst doesn't hold the above stock but have delta neutral positions in Nifty.