Sharma told CNBC-TV18, " Infosys unfortunately the downside have opened up and the unfortunate part is that the traders who were long could not come in and introduce their stop losses which were at higher levels closer to Rs 2,670 and because it opened with that kind of a gap down. So these people are already caught in the net and they might press more sales as the shares slipped below Rs 2,450 even though that is a good historical support for it.
He further added, " Yes Bank has stop loss at Rs 365 and I would bet for a price closer to Rs 400. Beside that we have seen a very good performance from Ranbaxy so any dip in the Ranbaxy share would be a good invitation to buy into it. Anywhere close to Rs 495 to Rs 500 it becomes a good buy with a target of close to Rs 530-535 in a week’s time."
"Metals are all on the weaker side because they are not on a very strong pitch. What we are seeing at the moment in the past one or two days is mere short covering rally happening in across the metal space. I would rather sell into this kind of an up move."
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