Infosys

Infosys moved in line with our expectation and rallied to the intra-week peak of Rs 1706. But the stock is pausing below this resistance. The near-term view will be ambivalent as long as the stock remains at these levels for a move above Rs 1706 can take it higher to Rs 1830 while failure to surpass this level will cause a decline to Rs 1500 again.

Our medium-term view for Infosys stays negative as long as it trades below Rs 1750. Failure to move above this level over the next two weeks can cause a decline to Rs 1486 or Rs 1400 over the medium term.

via BL