Infosys share trend

dear sir,

today ( 13.07.10) infosys share camedown with short Rs.99/-
can i purchase in this rate or wait for further tip?

kindly suggest

Thanks
yacob.A

INFOSYS Chart pattern on both Weekly and Daily Time frame is not encouraging. More over the fall today was considerable. Almost the whole of past weeks gains have been wiped out in today's single session.

INFOSYS is awaiting results this week and has a normal tendency to go weak before results and turning positive after the announcement. But, then earlier the chart patterns showed some strength, while now it is opposite.

On the weekly it has been in buy from 1400 levels giving a gain of 100%. The returns of the stock as well as the sector is not in par with the general market moves. In the current market TECHNOLOGY is the weakes sector. So, it would be good to find some other stock. Taking a call just because there was a fall is a wrong way of entering trades.

This is oour observance, please do your Due Deligence before deciding to trade a position. Keeping risks lower is highly advisable as markets all over are showing tiredness.

May be wait for some panic in market to buy stocks in general. Now market is in euphoric+distribution mode. At least allow market to retrace, no hurry!

INFY was first stock to go over bought in hourly chart, so is many other stocks currently. It has not reached to support either time wise or price wise. Allow it to happen.

Happy trading!

Dear d_s_ramesh,
I hope you go thru' news (paper or TV), results are due this week ???? Results came today morning (just before market open) and results were bad (-7% QoQ) and hence the downfall.

I don't advise holding the stock (if target was short-term), as early next month more shares of the company will be sold (as company has alloated more than 5 shares (depending on no. of year worked), to each employee, and maximum employee has opted for sale of the share.

Hi

From a 6 month to one year point of view, how do you view this stock....the long term targets and is it wise to enter with a 1 year perspective now....

waiting for your valuable suggestions!!!
also to practice short term trading (via charting) what stocks are good to learn.... please give 2 or 3 stocks ro start implementing TA.

can i get amibroker to practice for few months(not trial one as it is for one month only) once i i perfect the software i want to buy it since they offer 12 months free upgrade on purchase...... where can i get the amibroker free as for practice...

Thank You

For 1 year point of view Infosys is a Good buy, because most of the new clients added will be billed by then which will give good earnings. (hopefully), also Rupee is expected to fall against dollar in such long time which will reduce the fx costs of the company.

To practice TA (charting) and for short term any stock which has good liquidity will be fine, you should be able to study the demand and supply. Also look at biggies like Reliance and Bharti and Infosys ofcourse (if there is any news try to find the effect of news on the chart so that you don't confuse it with normal trend of the stock). Other good stocks to look at are Unitech, Suzlon, Ashok leyland, (if you notice these are below 100 rs stocks)

I don't know how you will get amibroker for few months, but you can try Ninja Trader (it's free) and believe me it's not less than Amibroker in any sense (infact i know lot of people who have migrated from amibroker to ninja trader, only reason i have stuck with Amibroker is due to its extended backtesting features)

http://www.ninjatrader.com/webnew/download_trading_software.htm

Thank You

how do i get the real time data and EOD for ninja TA software....


Regards
Indira

For Realtime (Tick data), you can try ManshiRT (http://manshi.co.in/), (it supports amibroker, fcharts, ninjatrader) they have one month free trial (and also the monthly charges are very low)

For eod data use www.getbhavcopy.com (created by one of our Traderji Members) (it's free !! )

Amibroker has a free evaluation copy which does not have any time limit for expiry. If you have knowledge of Ami, it would a nice option to use it. Getbhav copy gets you data from the exchange to the TA program. Adithya ji gave a right suggestion. Just recently I spoke to a trader using Ami from the trial version and it has not expired. Trail version states one month time but it is extend-able. Still if you are particular to use Ami, I have a original copy which I bought for some specific use but, unfortunate that the source became defunct. Hence, I can give you my copy for your study purpose for some stipulated time till you intend to purchase your own.

For study purpose have some stocks which are trending as well as non-trending. So that you can get to know how the market is when ranges come and how it behaves when there is a trend. NTPC is one stock which always stays in non-trend. While INFOSYS is a trending stock. Studying through sector classification gives you more broad picture.

Most of the front line stocks show exhaustion in their bullish patterns. Staying with the leaders will be a good idea as you have liquidity there. Instead of having to watch many stocks in your screening which will not provided you opportunity to give full attention. Have a selected few, getting to know their moves in and out. You can find some great opportunities in them.

Infosys at present has weakness on both long and short term charts. It has a potential to go between 2730-2650 range. If you have to trade in, choose to enter some where inside the range but only if there is some bullish signs.

My sincere advice would be to risk very low on any stock, which will ensure that you are still with the trade and also secure if the market goes against you. Bharti had a good entry into long trend this week at 310 levels. As the stock is trading below its recent long entry, you can think of adding this stock to your portfolio.

Again, the same caution - only give small risk capital to it. Once it starts moving up you can accumulate in phases. Telecom Sector has started looking up after a prolonged bearishness. Bharti is the leader in the Telecom pack with the highest market cap.

Heartly thanks for your suggestion. it really helped me

Regards
Yacob.A