According to Sudarshan Sukhani of s2analytics.com, Infosys is a buying opportunity. He would expect the stock to breakout on the upside from its trading range.
Sukhani told CNBC-TV18, “Choppy markets give us opportunities for buying and selling both. I am looking to buy Infosys. Infosys has been in a trading range after that big upmove it saw on the back of results. IT stocks are doing well, that is primarily the four majors. I would expect Infosys to breakout on the upside from its trading range. So Infosys is a buying opportunity. As usual maintain a stop loss. Keep this as a trading call, but it could workout very nicely even if the Nifty has one good day.”
Infosys fell 0.99 percent to close at Rs 2,785.20 on Bombay Stock Exchange on Friday. In last three months, the stock gained more than 21 percent.