CMP: 3310


Infosys has dropped from yearly highs of 3850 to 2950, taking support from 38% Fibonacci levels and now has crossed over 62% Fibonacci on closing.

A lot of top management exits and concerns surrounding that probably dragged Infosys from highs and with new CEO in place, it looks like its retracing back towards yearly highs.

Rupee also is weakening and now above 60, after being near 58 for some time.

Swing investors and traders can buy and hold for next 1 to 2 months for 10% to 15% gains on this counter.