Ambareesh Baliga of Karvy Stock Broking believes that Infosys Technologies can definitely touch Rs 2200-2400 in the coming 6-9 months.

He suggested investors to hold the stock for long term, and when it reaches or crosses this expected level, they can make their profits from this evergreen stock.

“We have been recommending people to buy techs especially for the last month or month and a half. We had taken a very clear view that the rupee will not appreciate beyond 40-40.75 basically because the government cannot afford to led the rupee appreciate beyond that. Very clear announcements came recently from ECBs etc, so even now we have the same view and because of which we are seeing at any sort of fall, techs could be a defensive bet because in case the rupee depreciates by other 0.50 paisa or rupee or so, you could see these techs flying around,” Mr. Ambreesh said.

“If one is buying Infosys possibly closer to around Rs 1,900-1,925 levels, which is the level at which we were recommending, one should be able to see levels of around Rs 2,200 to Rs 2,400 over the next six-nine months. Whereas the downside is very limited, possibly we could see levels of Rs 1,825-1,850, which is okay for a stock like this,” he further added.

Infosys Technologies is the India's biggest IT firm with functioning in over 15 countries, and it provides software development and engineering through a group of development centers in Asia as well as North America. It also offers project management, systems integration, data management, support, and maintenance services.