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14 Apr 2008

Infosys Update:Weekly Update 15 Apr- 19 Apr

1. Infosys is suffering a lot due to pre earnings fears which led to the fall in the stock close to 4 percent on the lower side.


2. One has to watch the stock remaining above 1401 levels and only than one can see the stock propelling towards the target 1550-1640 levels.

3. Presently stock is range bound between Rs 1,400 and Rs 1,550 and the same has happened for past three weeks. One has to closely watch Infosys breaking 1388 levels from which the down fall can commence as even good results from Infosys will be only taken with a pinch of salt. Breaking of 1388 level will lead to stock hitting 1300 level and deeper correction can take the stock to 1100 levels.

4. It is pertinent to note that Infosys has a medium term resistance at Rs1,551.

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