Web special: Infosys could trend higher
Check out the F&O trends and strategies for select index stocks with Kunal Bothra, technical analyst at LKP Sec
SmartInvestor:The Sensex touched a 52-week high in early trades today. What is your call on the benchmark index for the near to medium term till the Q2 earnings season is over?
Kunal Bothra:I think the trend is bullish and with the 200 DMA holding up pretty well, it could very well be the bulls way for the markets. I think a break of 6250 is required for the momentum to rise sharply from here. So, as of now maintain long positions, and build them aggressively above 6250 levels on Nifty.
SmartInvestor:Infosys has gained post its Q2 earnings and the IT major is trading near its 52-week high. What is your call on the stock at current levels?
Kunal Bothra:Technically, Infosys has moved up after almost 2 months of consolidation, so I think stock could trend higher. However, the pace of rise could be a lot slower going forward. 3500 levels for INFY could also be possible in the next 3 months.
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