INFOSYS WEEKLY

INFOSYS weekly
Chart view
INFOSYS is probably the only stock which is not showing any weakness in its run up, in fact its outperforming the nifty. Key resistance is in the 2130-2150 regions. However the stock has run up a lot and is far away from the 25 week average so may be it can cool down a bit. Supports come in at 1970 which is a good support as seen in the chart there after the support is in the region of 1880. IN the entire run up the volume on down days has been significantly less than on the up days .
OI view
1950 puts have been adding OI indicating support in the region of 1950-1970. While on the calls side there is no such build up indicating a relatively open up side. The best case scenario would be a retest of the supports at 1950-1970 ad then move up and try to take out the recent high.
The futures is showing decrease in OI suggesting long unwinding rather than additions of short positions.