Infosys may slip to Rs 2150, says SP Tulsian

Tulsian told CNBC-TV18, “Infosys, if you see in last couple of months people have started taking a positive call that FY13 is likely to be very good and we have seen the short-term buying or maybe the investment kind of buying happening in the stock between Rs 2,400-2,500, probably entire quantity doesn’t come for selling, but once we will be out with the results of maybe TCS which is expected this evening and if that is seen to be better again we will be seeing a good shift from Infy to TCS .”

He further added, “The kind of consistency and confidence which we have been witnessing in TCS for last eight or nine quarters and if it gets repeated today also it will really be reassuring and the shift is likely to continue from Infosys to TCS and in that situation maybe one cannot say that the pessimism has got factored into the price. I am expecting the price to fall to about Rs 2,150. So if somebody wants to plunge into the stock he should really wait for the further fall of about Rs 100 in the Infosys. For the traders it is a different ballgame. They need to watch the trend and then accordingly take a call, but for the investors the right price for entry could be anywhere at around Rs 2,100-2,150.”