Infosys – weakness expected

CNX IT Index as on 05 Apr'13 - 7047.35

CNX IT Index as on 05 Apr’13 – 7047.35

Infosys Ltd as on 05 Apr'13- 2865.85

Infosys Ltd as on 05 Apr’13- 2865.85

CNX IT Index and Infosys both charts looks similar to each other, like they both are twins.

I sense that CNX IT Index and Infosys will correct from here.

Below 2820 infosys will confirm its weakness and can move lower. Initially it may find support in the range of 2790 to 2760, and consolidate there.

Trading strategy could be, Buy Puts for Infosys with stop loss of 3000.

CNX IT will confirm its weakness below ~7000 mark, so keep watch on it.

 

 

 

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