1. Infosys is riding on the Satyam scam and in this competitive world an individual loss may be a gain for another person. One can see a bullish reversal pattern in the stock but the same needs to be corroborated by stock closing above the level of Rs 1201.
2. As a strategy one can go long in ths stock only if it closes above the level of Rs 1201 and mind it, stock has to give a weekly closing above 1200 levels to be bullish on the stock. Thereafter One can be optimistic to see stock achieiving the levels of Rs 1,260 and Rs 1,307. Stock has strong support at Rs 1,140- Rs 1,060.
3. Relianceis in downtrend as its support of Rs 1200 has been breached. Stock will face the resistance at the level of Rs 1211 in its onward journey. If the stock kept its downward momentum, than it can target the level of Rs 1,092 and then Rs 1,021.
4. As a strategy one can short this stock if it fails to move above the level of Rs 1200 and stock can target the level of Rs 800 which appears scary. Stock is likely tomove in a band of 950-Rs 1,500.
11 Jan 2009
Indian stock market tips for Infosys and Satyam| 12 Jan- 16 Jan 2009
Indian stock market tips for Infosys and Satyam| 12 Jan- 16 Jan 2009
2009-01-11T16:11:00+05:30
Analyst
Infosys|Reliance|
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