Date:07/09/2008 URL: http://www.thehindubusinessline.com/bline/iw/2008/09/07/stories/2008090750370903.htm

Back Infosys

Infosys achieved our first near-term target at Rs 1,800 before reversing lower last week. Despite Friday’s correction, the stock is halting just above the long-term average lines. The stock has immediate supports at Rs 1,680 and then Rs 1,610. Short-term traders can buy the stock on a reversal from the first support. Resistances for the week would be at Rs 1,804 and then Rs 1,876.

We retain our positive medium-term view for Infosys. The weekly momentum indicators are diverging positively and the 10-week ROC is entering the positive zone. Though the stock could be volatile in the near-term, it can make an attempt to move close to Rs 2,000 over the medium-term.

— Lokeshwarri S. K.