Infosys – CMP 2450. Strong tussle for this level, similar to the one we had a few days back for the 2400 levels.
Infosys is likely headed higher to 2485.
Will post the chart by EOD.
Cheers,
Girish
From: Girish [mailto:girish.
Sent: 12-Nov-2009 13:44
To: 'Technical-Investor
Subject: RE: [Technical-Investor
Thanks for the additional points. Your post comes in as I was typing the foll points –
1. Time-frame – it’s NOT an intra-day trade. It’s a positional play – may take some days.
2. Lots of support for the stock around the 2200-2210 range.
3. On the Weekly chart, the strength is there to see. The break of 2423 will be a new all-time high for the stock.
Can someone add views for IT stocks, in relationship with the falling USD ??
Thanks.
Girish
From: Technical-Investor@
Sent: 12-Nov-2009 13:34
To: Technical-Investor@
Subject: Re: [Technical-Investor
Girish,
Infy definitely looks well poised for upmove. But, it will face stiff resistance near 2335-2350. If on closing basis, it gives above this level - then it looks poised for next stop at 2400-2421+ and new highs
Stop loss for delivery will be 2210-2200. Today it has made high of 2349, but for intraday - its holding near crucial support levels of 2315-2300 as I write this mail. If broken days low, then can drift down.
Buy on closing abv 2350. Though weekly has given good breakout & Indicators are suggesting strength in the stock - lets wait next 1-2 days for clarity.
Rgds/Balaji
On Thu, Nov 12, 2009 at 1:13 PM, Girish <girish.krishnamurth
Infosys is set to head higher and retest 2423 – it’s previous high.
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