Sudarshan Sukhani, s2analytics.com is of the view that one should not buy Infosys. “In the retail space, one can see Shopper Stop, the chart pattern suggests much more upside,” he adds.
Sukhani told CNBC-TV18, “Infosys has been a disappointment, like today’s market. We do not go and buy these stocks. Infosys should have broken out of a trading range, it failed to do so. Tata Consultancy Services (TCS) has weakened and the CNX-IT index itself is very weak. So we stay away from Infosys. Again it is not a short sell but we do not need to put our neck in and try to time the market, just do not buy it.”
He further added, “In retail, the only stock, I can think of is Shopper’s Stop. That stock has very good chart. The chart pattern suggests much more upside than where it is looking at now. The rest are speculative, they will keep on going up and down. As you will keep on telling us the news of what happens in the Rajya Sabha (RS) today and tomorrow, these stocks will also be sort of gyrating, they should not be touched. Shopper’s Stop is a long-term or a positional trade on a long side. None of the retail stocks should be touched for day trading.”
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