Hardik Ruparel of Quant Capital is of the view that one may go long in Infosys as the stock may test Rs 3400-3500.
Hardik Ruparel of Quant Capital told CNBC-TV18, " Infosys has ideally corrected from Rs 3800 to Rs 3200 levels. It is currently trading at near 200 day moving average (DMA) and huge blogs have been traded in last trading sessions. I won't go short because ideally the stock is quite oversold on daily chart particularly. So, expect a decent bounce back, it can give a surprise on the positive side."
"The level of Rs 3400-3500 can also be seen in Infosys from a month's time frame. Trade with a long bias with a stoploss at Rs 3020," he said.
Disclosure: Analyst has no personal holdings in the stock but would have recommended to the clients.
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