Tisco has a resistance at the levels of Rs 600-640-660-700 and share is showing a downward trend. Stock is having support at the levels of Rs 540-Rs 550. A 200-day moving average is also poised at Rs 550. This support zone can cushion the stock's decline in the near-term. However if stock is able to sustain above the level of 550,one can see stock touching levels of Rs 590-Rs 600. In case stock continues with its down ward trend than stock can fall to the level of Rs 523-Rs 500.
Infosys is showing a weak trend as stock is hovering below 50-day moving average. One can be positive on stock only once it crosses above the level of Rs 2,600 as thereafter stock can rise to levels of Rs 2,695-Rs 2,750. Stock has support at the levels of Rs 2,520-Rs 2,500. One can short the stock below 2499 for the targets of 2350 as stated last week. Short-term view will turn negative only on an emphatic decline from this level.
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