Sudarshan Sukhani, s2analytics.com advises to avoid Infosys at current levels.
Sukhani told CNBC-TV18, “One doesn’t touch Infosys . There is nothing at all to do in it. We can’t buy. This is not a buy on dips, it is something which is very different and there is no reason to short sell because after such large gap down, short selling is not a good idea. Trading is not just buying and selling. It is also a lot of risk management. Infosys at this point doesn’t justify the risk of being sold into.”
Infosys touched its 52-week high Rs 3,010 and 52-week low Rs 2,101.65 on 07 March, 2013 and 26 July, 2012, respectively. Currently, it is trading 22.49 percent below its 52-week high and 11.01 percent above its 52-week low. Market capitalisation stands at Rs 133,969.30 crore.