As you can see in the weekly chart above – Infosys has stalled around current levels since July 2011. But with INR depreciation and US economy looking ok – it seems Infosys may act as hedge to the Nifty downfall and breakout past current levels. Remember, any decisive breakout will mean more money chasing Infosys. So, keep an eye as the stock aims to go higher. Having said that – wait for the breakout on weekly basis.
Please do your own due diligence before trading. The article has been written purely for educational purpose.