Thursday, January 08, 2009

>INFOSYS Technical Analysis

INFOSYS The icon of IT sector.
After 7th January Satyam saga There's a sudden interest of Traders in IT sector.
Volumes have increased in IT sector scripts considerably.

Of course what happened on 7th January will be remembered as black day in
Indian IT history.Whats bad for Satyam could turnout to be good for its competitors
Existing clients of satyam may be eager to shift to other IT majors.
Let try to analyze Infosys the chart attached is self explanatory
A nice 5 down of 3rd wave expect a nice corrective rally in it if 1000 holds.
1300 could be a conservative target.A falling wedge kind off pattern is emerging
on last down of 3rd wave,Which sugggests a nice pull up if 1000 is held
My views are for active traders,So lets see how Infosys reacts in coming days.


Anonymous said...

Another interesting pattern on the chart looks like a head and shoulders formation, the price target for which has already been achieved.

Another reason for a possible up move. But one should await the Q3 results before taking a position.

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EsKaY said...

nice one.

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