Share Markets
ONGC is showing a range bound movement and the stock needs to move past 1221 with volumes to move to touch the previous highs namely 1273 level. However if stock fails to move past 1221 level than it can fall to the levels of Rs 1,101 or Rs 1,039.Stock Share market
Infosys is near its resistance zone which is existing between Rs 2,400 and Rs 2,450. Thus if the share will not be able to move above this level than the stock is going to see a movement in a broad band of Rs 2,100-Rs 2,450 for a few more weeks. This move by Infosys can be called as consolidation which will hold it in good stead and thus stock if maintains above the level of Rs 2000 will sooner or later touch Rs 2,510-Rs 2,637 over the medium term.
As a strategy short-term investors can be long in the share with a stop loss as Rs 2,299. If one is holding the stock for long term than one can hold the stock till the time stock do not breaks the level of Rs 1,899 on the lower side.
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