INFOSYS Whats next ??

INFOSYS --- A lesson in TA
INFYY stopped exactly at the bear flag (bear flag targets most often act as supports) target of 2165 and also at the same time at the trend line.
Now the stock has support at 2165 below which it can test a strong support of 2116-2110 which has been marked in the chart. The resistance lies at 2250 above which the stock can test 2300 and then 2350, 2350 is very strong resistance due to a gap at that point and a close above it will set up the stock for new highs.
From the OI data
Put writing in the region of 2160 suggests support while call writing in significant quantities at 2250 suggests resistance at those levels. The futures have shown decrease in OI which shows yesterdays rise has been on short covering.
The stock is important as far as nifty is concerned failure to cross 2250 will create problems for nifty to cross 5100 but a cross of 2350 will help nifty make new highs.