Date:26/04/2009 URL: http://www.thehindubusinessline.com/bline/iw/2009/04/26/stories/2009042650210904.htm

Back Infosys

The strong surge witnessed on this counter on Thursday made it close the week with 4 per cent gain.

Infosys has been repeatedly testing the resistance at Rs 1,450 over the last three weeks.

As explained in our last column, the stock has key resistance at Rs 1,450. Downward reversal from here will make it decline to Rs 1,000 whereas a rally beyond this level will give the stock next medium term target of Rs 1,587.

Fresh purchases from a trading perspective are therefore recommended only on a strong move above Rs 1,450. Subsequent short-term target is Rs 1,527.

Supports for the short term are at Rs 1,380 and Rs 1,350. Medium term trend will turn negative only on a close below Rs 1,300.

— Lokeshwarri SK