TCS Q2 impact: Anil Singhvi reveals at what levels you should short Infosys futures
Infosys share price is showing the same trade pattern that we had witnessed yesterday in TCS counter, says Zee Business Managing Editor Anil Singhvi.
TCS Q2FY20 result effect: Taking a cue from the trade pattern that the IT counter TCS showed yesterday ahead of the second-quarter results, the Market Guru Anil Singhvi has advised share market investors to take a short position in Infosys shares. He said that Infosys share price is at around Rs 780 and an investor can sell this IT counter taking stop loss at Rs 790. Singhvi said that the immediate Infosys target will be Rs 770.
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— Zee Business (@ZeeBusiness) October 11, 2019
Speaking on why one should sell Infosys stock which is in the green zone today, Anil Singhvi, Managing Editor, Zee Business said, "Infosys share price is showing the same trade pattern that we had witnessed yesterday in TCS counter. TCS too was in the green zone in the morning to noon and once its Q2FY20 results came out, it tumbled at today."
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Talking about the short position and its targets Anil Singhvi said, "One can sell Infosys shares at Rs 780 levels for the target of Rs 770 per stocks. But, while taking a short position, one must maintain a stop loss at Rs 790 per Infosys shares. Once the Rs 770 target is achieved, one can hold it for the next two targets — 765 and 755 — but they need to change their stop loss to Rs 785." He said that those traders who don't want to take long stop loss can revise their stop loss at Rs 780 per stocks also.
Talking about the Q2FY20 Infosys results Singhvi said that Infosys results are also expected weak as we saw it yesterday in TCS. So, Infosys will also tumble once its Q2FY20 results are out.