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Sep 11, 2012, 10.49 AM IST
One can short Infosys at current level with a stoploss of Rs 2548, says Siddharth Bhamre of Angel Broking.
One can short Infosys at current level with a stoploss of Rs 2548, says Siddharth Bhamre of Angel Broking.
Bhamre told CNBC-TV18, "We are not very optimistic on Infosys, Rs 2450-2500 was a strong resistance, it has closed marginally above those levels. The entire rally from Rs 2,100 levels to current levels was mainly because of short covering and between Rs 2,350 we did see some long positions that also got unwounded around Rs 2,500 or so." He further added, "We believe that the stock is light now and you might see fresh shorting happening at higher levels. So at current levels one can go short. We are expecting the stock to correct till Rs 2,380 and you can probably fix a stoploss of Rs 2,548 and go short on Infosys."
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