October 31, 2011

INFOSYS Chart analysis

  • Infosys is testing a resistance line in weekly chart.
  • Price is also testing its month high ema.
  • For bulls price should do a close above month High EMA for continuing this up move.
  • Daily charts are showing overbought stochastic readings. But MACD is still in buy mode with Some negative divergence.
  • Another important thing to track for IT stock is the movement of USDINR. I have done an analysis on the trend of USDINR today: CLICK HERE TO SEE USDINR TREND UPDATE

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