Below Rs 2550, Infosys may slip to Rs 2418-2420, says Hemant Thukral, Aditya Birla Money.
Thukral told CNBC-TV18, "I think the way Infosys reacted; I don't see the reaction stopping immediately. In fact the way the shorts have been piled up, I am even more amazed the way delivery selling has taken place. It has seen a huge delivery marking yesterday. So clearly the pressure may continue. The Call writers have accumulated on the southward side. So if Infosys breaks Rs 2550 then it is heading towards Rs 2418-2420 levels. I think at every rebound you will Infosys facing selling pressure."
He further added, "Having said that if you say same for HCL Tech or TCS , I don't see because they have not seen same amount of shorts nor the delivery based selling. So I would be slightly cautious going short on TCS or HCL Tech."
"In TCS Rs 1065 holds the key that is the level where every time it has bounced back, so it has not broken any major support levels till now. HCL Tech was hardly down 1.5-2%. But Infosys on any technical rally will meet with selling pressure. So if one has to take a slight risk, I would be shifting towards TCS or HCL Tech."
