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3 Jul 2008

Bluechip stocks update: SBI and Infosys

1. If 1089 level is broken then more weakness will be seen in the stock in coming days.  If SBI falls below Rs 999 level then one can see the bearish level of Rs 975-880-850 in the stock.

2. However on the upside SBI has to face the resistance at Rs 1,101 level and thereafter the stock can shoot to 1,200-1,220 level where the resistance will be encountered.


3. Similarily Infosys has a resistance at 1950 level and thereafter at 2100 levels. IT stocks are in uptrend presently. Keep a watch on the level of 1689 for Infosys and if this level is broken then exit all long trades in this counter as stock will come in firm bear grip.

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