Stock of the day : Buy Infosys Ltd For Target Rs.42 - Religare Broking Ltd
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Infosys Ltd
* INFY failed to surpass its crucial resistance area of 1500-1520 and have been forming lower highs and lows thereon.
* Recent pullback fizzled out around its short term average and witnessed selling pressure with noticeable surge in volumes.
* Price action coupled with uptick in volumes suggests bearish tone to continue.
* We thus recommend creating fresh shorts through the Put option.
BUY Infosys Ltd BUY 1380 PE CMP 18.30; Range* 18-20; SL 7; Target 42
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