Tuesday 4 November 2008

Infosys has target of Rs 1800: Mathew

Technical Analyst, E Mathew is of the view that Infosys Technologies has target of Rs 1800.

Mathew told CNBC-TV18, "I do not think IT stocks have topped out. They are just taking a little bit of a rest. IT could be one sector, which may surprise on the upside selectively. If you take a chart of Infosys or of TCS, what they need to do now is to consolidate a little at lower levels especially a stock like Infosys has had a handsome run. I would be a buyer again in Infosys at around Rs 1,150-1,200 zone. I think if the Nifty is to rally above 3,400, Infosys would outperform. In the medium-term, from six months view, I think one could look for a target of Rs 1,800 in Infosys."

Disclosure: Analyst associate company has sold out of money calls.

Source: Moneycontrol

Posted by Harsh at 06:41

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