Upside capped in Infosys Technologies: Nilesh Shah

Shah told CNBC-TV18, "Infosys Technologies has to some extent participated in the recent rally and it had a reasonably good run. My sense is that the real upside from here would be capped. I think in a best case situation we could probably go to Rs 3000 which would be more driven because of the beta factor rather than any kind of an alpha kind of a situation. So if there is strong liquidity coming in, it would be very natural for the Infosys stock to edge up towards that level of Rs 3,000."
He further added, "If the market does correct it could go down to a level of about Rs 2,600-2,700 also if the market were to correct another 5-7% from here. So I think you are going to see very limited outperformance on the Infosys stock from here, there could be minor absolute returns but if the market were to correct it would also participate on the way down."