INFOSYS

INFOSYS
The most outperforming stock in NIFTY has resistance at 2370 which is the upper gap resistance above which inffy will test 2426 and a close above this week will be a big boost.
However the stock has touched it upper Bollinger bands and in the past on many occasion after touching the upper bollinger band the stock retraces to its 50DMA which has been its strongest support right now the 50DMA is at 2240. The 50DMA is a good area to buy into the stock if the retracement coincides with nifty being at support.
INFOSYS OI DATA
1> THE 2400 calls hold some amount of OI and hence is a resistance.
2> The 2300 PUTS have good amount of OI which indicates strong support at that levels.
3> The sock futures added OI along with the upmove which is bullish.

Considering the above data the stock most probably will test 2400 in this week but the important thing is that it should close above 2370 for possibility of further upmove.

INFOSYS

INFOSYS
Infosys closed below its strong support of 50 DMA with a huge black candle and a sell signal was also generated these factors point out a bearish time for Infosys
Now the next target/support can be 2100 which is a strong support
Below 2100 infy can test its 100 DMA of 2046 and a close below which will be bad for the stock as it can even go to 1950 (all these scenarios will occur step by step if they occur)
For bull it is best to avoid buying in infyy till it consolidates at either of the above mentioned supports( preferably 1950)