Apr 23, 2014, 02.58 PM | Source: CNBC-TV18

Short Infosys, says Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Brokers is of the view that one may short Infosys as the stock may test Rs 2960-2980.

Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, " Infosys is looking quite weak. So, definitely there is a pull back today because of the expiry affect and we may see some more recovery towards Rs 3200-3210 levels but along those levels it is a good opportunity to short the stock because we have witnessed a very strong addition of shorts around Rs 3250 mark and post that we have not seen any meaningful recovery coming in to the stock. Today the affect is more of rollover."

"Any recovery towards Rs 3200-3210, one can again initiate a short position with a stoploss above Rs 3250. On the downside we expect the stock to target somewhere around 2980-2960 levels," he said.

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