Here`s my thoughts…IT will be supported by the Budget – but in the process Infosys is still over priced. UBS suggested a sell just two month ago with a target of Rs. 2900, and Mr. Murthy himself said they were having tough times – and yet the price has come up – which means someone is rigging the stock upwards rather than showing its true movement. Infosys if honest will show a weaker result thereby plunging the stock down, and allowing the new CEO to make it go up subsequently – OR – they will show higher results taking it upwards but then making it tougher for the now CEO to continue the upwards trend. Remember Q1 results are Mr. Murthy`s efforts and not the new young CEO`s. I find it interested to see what happens !
I do not agree with the price movement and would have thought it would move very patiently (Slowly) !
Price at post: Rs. 3348.
That being said : Knowing how the market moves – Target 3800 – 52 Week Highs possible!
-Written by Shivam Parikh