5608 Resis

Dear All,

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Updated during market hours on face book. Seems like a IHS Pattern, not yet broken out.

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5604-08 Resistance if crossed, then possible upmove as per given on chart. lets See.

>>> INFY <<<

Infy to announce it results tomorrow.

Analysts on average expect Infosys to report a net profit of Rs 2,297 crore, down 3 percent sequentially, while Rupee revenue is seen up 3 percent at Rs 10,730 crore, according to a CNBC-TV18 poll. In US Dollar terms, revenue is expected to rise 4 percent at USD 1,987 million in Q4.

CLSA Asia Pacific Markets in turn feels Infosys and rival Tata Consultancy Services hold potential for surprising positively on the revenue front. It expects Infosys to report a revenue of USD 1,990 million (up 4.1 percent), with USD 26 million incremental from Lodestone.

The company's margins are expected to decline 65 basis points in the quarter, on the back of wage hikes it gave to onsite employees and expenses related to the acquisition of Lodestone. The management has already guided for a 100bps margin decline, but the wage hikes and acquisition expenses will be partly offset by improvement in utilisations.

According to CNBC-TV18 poll, Infosys is likely to forecast US Dollar revenue growth of around 12 percent and earnings per share is likely to be in the Rs 173-176 range (up 6-8 percent).

>>> Hourly Chart <<<

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Infy Faces Resistance at 2955, if breaks Possible Upmove on Card. Lets See.

>>> Daily Chart <<<

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Infy moving up with -ve Div shows lack of Strength. Pattern looks similar to IHS, but lot of Gaps give an unclear picture. If support as marked at 2750 breaks then it may slide till 2590 in coming days, else if able to break the Upper Resistance line above 3009-14 then it may ignore the -ve div and can zoom to new high. Interesting days ahead. Lets See