Infosys – 2200-3000 – A 800 pointer range – Next Nifty mover

In the last many months we have seen Nifty continues to maintain higher levels and everything else listed going into dumps. We have almost reached a stage where Nifty is becoming irrelevant for a trader or investor.


There was a time when people would hedge the portfolio with Nifty Shorts/ or Puts. Now it seems the only hedge is to increase cash because Nifty is in a different trend.

The divergence in Bank Nifty and Nifty has never been so huge in last 5-8 years see this chart


Another index stock which was silent for past many years – Bharti Airtel seems to be now getting into a major reversal – See this chart discussed some days back


So we are coming down to a point where one cannot take a trade on basis of Nifty trend. We bounced from 5600 to 6100 but quite a lot of stocks kept going down. And now a dip from 6100 to 5700 and we see some stocks rallying strongly.


From now on the focus should be specific stocks and assume the broader market trend to be down and selective moves to continue.


Now we come to the part of Index management. Every few months we see a different heavy weight being notched up or down. Be it ITC, HUL, TCS, Reliance, Banks, Pharma etc.


The next most important chart which comes on the technical radar which can change the move in Nifty is Infosys.




Technical View:


-> The stock has underperformed all the peers like TCS , Wipro , HCLTech and even the smaller ones like Tech Mahindra.

-> There have been huge swings on result days but the next result is 2-3 months away.

-> Major resistance at 3030-3050.

-> The range is of 800 points and will it be going back to the lower end of the range or blow out above 3020-3050.

-> The previous tops at 3400 could be an immediate target in momentum.


A confirmation of trend can come only above 3020-3050 but given the index management and underperformance of the stock , we would be keeping a close watch on this index heavyweight.

Given a 8-9% weightage and other IT stocks also tagging along we need to keep a close watch. On breakout quite a few option strategies can be worked out.


For now a stock on radar with 3020-3030 as a price point.



AUGUST 10-11

Can check a brief on the course outline


This would be done through webinars.

For more details mail on or call Nooresh 09819225396 Ankit 09899899989

Nooresh Merani   ( For all our services )

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  1. Anon
    August 2, 2013

    Accumulation/Distribution hints at upside breakout

  2. Arjun
    August 14, 2013


    What’s your target for Infy & Tech M?

    1. Nooresh
      August 16, 2013

      Infy till it holds 2900-2950 for now can look at 3400

  3. Ashwini Damani
    September 5, 2013

    As we saw, Infy did hit almost 3100 yesterday…but it seems to be fizzling out today…Do u still think that the above hypothesis will hold

    1. Nooresh
      September 5, 2013


      One can keep a stoploss at 2950 thats a simpler way.


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