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Thursday, January 8, 2009

INFOSYS OUR TGT 1250/1300


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 inIndian IT history.Whats bad for Satyam could turnout to be good for its competitorsExisting clients of satyam may be eager to shift to other IT majors.Let try to analyze Infosys the chart attached is self explanatoryA 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 emergingon last down of 3rd wave,Which sugggests a nice pull up if 1000 is heldMy views are for active traders,So lets see how Infosys reacts in coming days.
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