Infosys being the market leader & its result having greater impact on the market direction, let us discuss some (technical) factors on the stocks.i)
NEGATIVE FACTORSa) Having gap @ 2040 & its a strong resistance till it is being filled up.b) Intermediate trend is down.c) Strong resistance @ 2150.ii)
POSITIVE FACTORSa) Holding 200 DEMA.b) Fibonacci retracement level : it is still holding 38 % retracement level.c) Directional index show recent downtrend is overstretched.d) Divergence in RSI.e) Weekly closing is a hammer.f) strong support @ 1825.g) weekly stochastics is in a buy mode.Conclusion:a) One can go long once gap @ 2040 is taken over.b) Fresh short to be avoided.c) For any investment SL 1825
.Note : I am bullish on infosys till it maintains 1825 level
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