Buy Infosys at Rs 900-1000: Sukhani

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Buy Infosys at Rs 900-1000: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that Infosys has a support at around Rs 900. It is going to be a rangebound stock, every time it dips to Rs 1,000 or Rs 900 there will be a buying opportunity.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Infosys sees over 50% erosion in market cap Infosys Q2 revenues grew by 32% YoY; sequential growth 12% Infosys may slip to Rs 960-1000: Gujral Infosys declares result; stk slips 12.3% ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Infosys See messages about Infosys Infosys BSE | NSE 28/05/12 Are Mutual Funds betting on Infosys?

Technical Analyst, Sudarshan Sukhani is of the view that one can buy Infosys at Rs 900-1,000.

Sukhani told CNBC-TV18, "Infosys has a support somewhere around Rs 900. So it is going to be a rangebound stock, every time it dips to Rs 1,000 or Rs 900 there will be a buying opportunity, I think those opportunities will come."

He further added, " ICICI Bank now belongs to a sector that is in a lot of jeopardy, first of all its not a PSU bank and I have been talking about buying PSU banks and suggesting that and I continue to remain very confident that anyone investing in a PSU share would make money. With 60-70% of the financial institutions virtually nationalized in Europe and America, what prevents another government next year from nationalizing these institutions in India. So I don't think that we should be looking at ICICI Bank as buying opportunities at all, times are going to change. This time it is going to be different, the regulatory environment will change a lot. So stick with the PSUs you will make money there."

Disclosure: Analyst has delta neutral positions in Nifty and investments in shares.