INFOSYS WEEKLY

INFOSYS WEEKLY
The stock has shown a DARK CLOUD PATTERN at a crucial point on the chart and that too with good volumes which is bearish; it has shown the pattern exactly at the last major high of FEB 2007, this should act as a caution for the longs in the coming week.
The supports are at 2160-2128 and then at 2065 with the support at 2128 being the stronger one.
The next resistance is at 2400 which is roughly the high of Feb. 2007 and more importantly the high of the dark cloud pattern. IF this resistance is taken out with good volumes then the stock nearly has a open space to move upwards, however dong so will be very difficult.
OI DATA
The calls from 2300 and above have shown good amount of call writing which indicates the resistance the stock faces in the region of 2300
There is lack of put writing except at 2250 puts which show some support at current levels and if the stock does close below 2220 in coming days then it can well test the supports mentioned in the charts.