Infosys likely to test Rs 1,200-1,250 levels, says Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, talks about IT stocks.

ET Now: What is your view on CNX IT index? Any comment on Infosys?

Ashwani Gujral: The Infosys charts were showing a fairly large bar on the day of the Q1 results and the start started consolidating thereafter. This is the kind of moves, which will probably take it further towards Rs 1,200-1,250 levels.
Overall, the CNX IT index seems to be catching up with the other indices. The breakout really comes above 11,800 and that would be the level where I would think that the index bottomed out. The stronger IT stocks should be bought by people as the index starts a journey back towards the previous highs.