• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Infosys Technologies moved within an extremely narrow band last week resulting in a doji formation in the weekly chart, denoting status quo. The near-term trend for the stock is up since the January 22 trough. Extension of this move can take the stock higher to Rs 1,776 or Rs 1,948. Short-term investors can buy the stock with a stop at Rs 1,460.

However, we continue to advise caution for the medium-term. The stock faces strong resistance at Rs 1,680 and then at Rs 1,800. Reversal from either of these levels will make the stock undergo another bout of volatility. Investors can wait for a firm close above Rs 1,850 before buying the stock. Conversely, they can wait for another dip towards Rs 1,200.

More Stories on : Technical Analysis | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Update

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line