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10 Aug 2008

Indian stock:Infosys update

1. Resistance for Infosys exists at the level of Rs 1700 and 1750 and level of 1750 needs to be decisively breached to target the level of rs 1820 and if it passes this level than stock can touch the level of Rs 2000.

2. However technical charts and indicators are pointing to a cautious medium term outlook. On lower side one can watch levels of Rs 1639 and Rs 1579 and if 1579 is broken one can exit all longs.

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