Keep stoploss of Rs 2978-2976 in Infosys: Anu Jain

Keep stoploss of Rs 2978-2976 in Infosys Technologies, says Anu Jain, India Infoline.

Jain told CNBC-TV18, "Infosys was looking very weak and the trend was very discomforting especially when it broke those Rs 2,980 levels for a couple of days and it went down. It was a sure short shot at that time but then it went into a sideways zone. Yesterday it managed to pull up over Rs 2,980, so I think given the fact that it is coming back from there, it would make a buying call and the stop loss would be pretty close, so Rs 2,993 is where it is closed."

She further added, "If I wanted to take a call on the sector or on the stock itself, the stop loss would be just about Rs 2,978 or Rs 2,976, which would be less than a percent and once it manages to hold on to, I would say closer to those levels of Rs 2,980, the next level it will move sharply towards this Rs 3,080. Yesterday atleast on the screen, there was a visible short covering happening into the counter, so I think Rs 3,080 which in trading terms would roughly mean about 4-4.5% is definitely possible."