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Infosys continues to lead from the front. It is the only pivotal, apart from Bharti, to have surpassed its May 2006 peak and to have closed above it!

Weekly charts indicate that we could be on the verge of a strong upward move.

We need another good week to confirm this strength. Else there will be a dip to Rs 1,680 or Rs 1,640.

The intermediate term outlook for Infosys continues to be upbeat. We continue to maintain that dips should be utilised to go long on this counter with a stop at Rs 1,600. Immediate targets on breakout are Rs 1,800 and then Rs 1,875.

Lokeshwarri S.K.

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