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20 Apr 2008

Infosys: INDIAN STOCK UPDATE FOR WEEK ENDING 26 APR

1. Infosys saw the upmove on the back of good results and strong global cues with stock gaining more than 17 percent in a week. However one has to note that its guideline is not as per market expectations and thus one has to watch the support at 1713 levels. The stock has the range as indicated 1580-1660-1680-1713-1720-1750-1785-1812.


2. One can go long in the stock till it remains above 1580 levels and if the stock crosses 1681 levels than one may see the levels of 1750 and if this level is breached one may see 1785 levels. However presently is hovering below strong medium-term resistance zone and has to close above 1681 to show some strength.


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