Infosys may have hit bottom: Ambareesh Baliga

Ambareesh Baliga, COO, Way2Wealth Brokers Pvt. Ltd.

Are you playing contra right now, the general view is that we might actually go lower. In spite of this view, if somebody is looking to put in some money because he may be circumspect of that, what are the stocks that you would look at?

As a contrarian bias we picked up Coal India when the mining bill was being talked about and the stock crashed about 10% in a day. We are looking at buying Infosys at the current levels because we believe that possibly this could be the bottom or we could see another 4%-5% move from here, at those levels we will average out more.

Among the midcaps we are looking at Crompton Greaves which again has given extremely good correction from those higher levels, so there are these couple of stocks which we have been picking up but again we are nibbling into it. We are not really buying in a big way because since we believe that we could see lower levels we need to keep enough cash to again average at lower levels.