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Consolidation in Infosys

Lokeshwarri S.K.

Infosys had a strong week, leading the rest of the market upwards. But volumes were low and negative divergence is being observed in the oscillators on the daily chart. The price has reached the upper boundary of its trading range at Rs 1,700 from where a short-term dip is possible.

It is the intermediate-term outlook for Infosys that looks promising. A breakout above Rs 1,700 has the targets of Rs 1,875 and then Rs 2,053. Buy in dips with a stop-loss at Rs 1,500 for position trading.

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