For *Everyday* Free updates on Buy Calls, Stock Splits, Bonus, Rights Issues & IPO:

  

Subscribe to the mailing list and get absolutely FREE *INVESTOR EBOOK*


Morningstar Stock Fund Investment Research


Technical Analysis of Infosys



This stock recorded a sharp reversal on Friday forming a bearish engulfing candle in the daily chart. This move has also made the stock close below both the 200 and 50-day moving averages and also below the key medium-term support at Rs 1,700.

Both the daily and the weekly momentum oscillators are in the sell mode now implying the reversal in both the short and the medium-term trend. However, the medium term view will turn overtly negative only on a close below Rs 1,528. Subsequent target is Rs 1,300.

The stock could move lower towards Rs 1564 in the near-term. A reversal from here would mean that a move towards Rs 2,000 is again possible. Resistances would be at Rs 1,876 and then Rs 1,937.

*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*

Find investments that fit your goals with Morningstar's Premium Screeners.




Morningstar  TheStreet.com 120x120 Best Seller Giveaway  Send money abroad for € 0.50 

30 Day Free MarketWatch - Technical Indicator   30 Day Free Trial - MarketWatch Proactive Fund

If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments

[...] by naatmad on Thursday, 17 July, 2008 This stock recorded a sharp reversal on Friday forming a bearish engulfing candle in the daily chart. This [...]

PL ADVICE - I AHVE TAKEN INFOSYS FUTURE AT 1820. NEED HELP

ok

PL ADVICE - I AHVE TAKEN INFOSYS FUTURE AT 1820. NEED HELP

Pingback by Technical Analysis of Infosys « NaAtMaD - News and Articles that Make a Difference on July 17, 2008 @ 7:09 am
[...] by naatmad on Thursday, 17 July, 2008 This stock recorded a sharp reversal on Friday forming a bearish engulfing candle in the daily chart. This [...]

Leave a comment

(required)

(required)


ss_blog_claim=6aa2ecd180820f4aa1e9ad184a46fb80