TECHNICAL ANALYSIS: INFY Has to Correct Below 2100 Level Before any Upmove

Infosys Technologies was started way back in the year 1988 by Narayan Murthy and since then every one know how infosys has grown from a garage to an multinational corporation. Starting business from just $1000 has today grown to multi-billion-dollar corporate, It is the only company in India to produce highest number of Dollar billionaires. Infosys today has become second largest software firm in India, in terms of market capitalization. Also Infosys has huge weight in BSE-Sensex index, it also contributes in NSE Nifty index as well. The company is very less affected by inflation and interest rates, but highly dependent on the Forex rates and US economy, as most of its clients are from the US and European region. Infosys has made India a leader in the field of software industry and Infosys itself is a market leader in terms of software exports. The company currently hires more than 100,000 people across the globe.
Taking a look at the stock prices we see it is left for bull runs only and we have no reason to go short on this stock, we are indeed look for buying opportunities in this stock as long as the price action is above 2300 level. Our entries will be fine tuned with the help of slow stochastic and RSI on the lower time frame chart. Also our advice for the investors is to accumulate the INFY stock above the 2600 level for targets as 3250 and 3500 levels. There should be stop loss placed around 2530 level just for portfolio protection. Technical indicators are in favor of trade and this results in high probability setup. This is very bullish stock for the long term investment.