Buy Infosys on dips, says Hemant Thukral

Buy Infosys on dips, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "There is a purpose in giving Infosys. The reason is what we saw on Friday. The stock spiked and between 3.00 pm and 2.30 pm due to the market conditions came down but overall data is suggesting that the cost has started to move up and people are looking to cut down their shorts."
He further added, "It is one of the rare counters in the market where there are still outstanding shorts to the tune of 16 percent. So I do not see Infosys dipping below Rs 2,280. So any dip in the market should be utilized as a buying opportunity, closer the Rs 2,300, the better it is and keep a stop loss of Rs 2,280. On the higher side, I feel Rs 2,386 to Rs 2,395 should be kept as a target where the stock can feel some resistance."