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Hi, This has been done during my Summer internship. for more guide on your project contact me on my email address ([email protected])
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SUMMER INTERNSHIP PROGRAMME
INTERIM REPORT ON
TECHNICAL ANALYSIS OF INFOSYS TECHNOLOGY
By
Bipul Kumar (MBF0818)
GULF BULLS SECURITIES PVT LTD.
Submitted to: AIT-SCHOOL OF MANAGEMENT, GREATER NOIDA
Date of Submission: August 25, 2009
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AIT-School Of Management, Greater Noida - 2 -
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AUTHORISATION
This report “Technical Analysis of Infosys Technology Limited”
done during my Summer Internship Program (SIP) is submitted as
a partial fulfillment of the requirement of PGDM program of AIT-
School of Management, Greater Noida.
25th August, 2009
Bipul Kumar
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ACKNOWLEDGEMENTS I would like to express my sincere gratitude to my trainer Ms. Himani Grover, Relation Ship Manager –Gulf Bulls Securities Pvt. Ltd., Faridabad for guiding me throughout my summer internship and research project. Her encouragement, time and effort are greatly appreciated.
I would then like to thank my faculty guide, Prof. J.S. Sukla, for all his valuable inputs and constant support towards me throughout my project and providing me an opportunity to learn outside the class room. It was a truly wonderful learning experience.
I would like to thank the corporate guide Mr.Dinesh Kumar, Equity Manager for helping me with the training and other activities and constantly motivating me to give my best.
I would like to dedicate this project to my parents & Brother Amit Kumar. Without their help and constant support this project would not have been possible. I would like to thank all my friends who did their SIP from GBS for their valuable suggestions and support.
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AbstractStock market operations are often compared to operation in gambling dens, and winning strategies are all supposed to be backed by Lady Luck. Investors are most often guided by the sentiments of faith and phobia. There are plenty of soothsayers/financial wizard offering advice and strategies to investors. However, to play safe and manage their funds optimally, they need organised information, logical reasoning backed by scientific methods and techniques. This project is a humble attempt at presenting this information.
This project aims to studies supply and demand in a market for stock of Infosys technology Ltd. in an attempt to determine what direction, or trend, will continue in the future. In other words, with the help of several indicators it analyzes the relationship between price – volume and supply – demand for the stock of Infosys technology ltd.
This project will be useful to both speculators and investors, being a value addition to their knowledge.
The first part of paper gives the brief idea about “Infosys Technology Limited”.
The second part of the paper deals with the tools of technical analysis which has been applied to analysis the relation between share price and volume.
At the end of this paper by applying the tools it aims to predict the future price movement of Infosys technology Ltd. As well as it also explain the News and their impact on Stock price.
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ContentAbstract.....................................................................................................7
1. Introduction ...............................................................................................8a. What is Technical Analysis? ................................................................8b. Technical Analysis: The Basic Assumption .......................................10c. Purpose 11d. Objective ............................................................................................11e. Limitation...........................................................................................11
2. Company Information.......................................................................12-16a. Management-Infosys..........................................................................17
3. Technical Analysis (Share Data )a. Listing Details – Infosys Technology................................................18b. Capital Structure.................................................................................19c. Share Holding Pattern........................................................................20d. AGM/EGM Details............................................................................21e. Dividend Declare................................................................................23f. Bonus History.....................................................................................24g. Split History.......................................................................................24h. Competition........................................................................................25
4. Historical Price........................................................................................265. Analysis
a. Monthly Report (chart showing price movement) .............................30b. Difference Between opening and closing price..................................31c. Opening V/S Closing ..........................................................................34d. Opening V/S High ..............................................................................36e. Opening V/S Low ...............................................................................37f. Sensex V/S Infosys .............................................................................38g. Price Volume Action..........................................................................40
6. Tools Used For Technical Analysis and Interpretation .........................41a. Bollinger Band ...................................................................................41b. Moving Average .................................................................................43c. MACD 45d. Momentum .........................................................................................47e. Moving average crossover ..................................................................48f. Infosys From 2000 to March 2009.....................................................50
7. News Analysis ........................................................................................51
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8. Block Deals.............................................................................................649. Option Price............................................................................................6410. Finding And Recommendation .............................................................6511. Bibliography.........................................................................................66
List of Tables Sl. No. Particular Page No.Table 1 Management Infosys 17Table 2 Listing Detail 18Table 3 Capital Structure 19Table 4 Share Holding Pattern 20Table 5 AGM/EGM Detail 21Table 5 Dividend Details 23Table 6 Bonus History 24Table 7 Split History 24Table 8 Competition 25Table 9 Historical Price 26Table 10 News Analysis 51Table 11 Block Deals 64Table 11 Option Price 64
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Introduction
The methods used to analyze securities and make investment decisions fall into two very broad categories: fundamental analysis and technical analysis. Fundamental analysis involves analyzing the characteristics of a company in order to estimate its value. Technical analysis takes a completely different approach; it doesn't care one bit about the "value" of a company or a commodity.
Despite all the fancy and exotic tools it employs, technical analysis really just studies supply and demand in a market in an attempt to determine what direction, or trend, will continue in the future. In other words, technical analysis attempts to understand the emotions in the market by studying the market itself, as opposed to its components.
What Is Technical Analysis?Technical analysis is a method of evaluating securities by analyzing the statistics generated by market activity, such as past prices and volume. Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.Just as there are many investment styles on the fundamental side, there are also many different types of technical traders. Some rely on chart patterns, others use technical indicators and oscillators, and most use some combination of the two. In any case, technical analysts' exclusive use of historical price and volume data is what separates them from their fundamental counterparts. Unlike fundamental analysts, technical analysts don't care whether a stock is undervalued - the only thing that matters is a security's past trading data and what information this data can provide about where the security might move in the future.
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Technical Analysis: The Basic Assumptions
The field of technical analysis is based on three assumptions:
1. The market discounts everything. 2. Price moves in trends. 3. History tends to repeat itself.1. The market discount everything: A major criticism of technical analysis is that it only considers price movement, ignoring the fundamental factors of the company. However, technical analysis assumes that, at any given time, a stock's price reflects everything that has or could affect the company - including fundamental factors. Technical analysts believe that the company's fundamentals, along with broader economic factors and market psychology, are all priced into the stock, removing the need to actually consider these factors separately. This only leaves the analysis of price movement, which technical theory views as a product of the supply and demand for a particular stock in the market.2. Price moves in trends: In technical analysis, price movements are believed to follow trends. This means that after a trend has been established, the future price movement is more likely to be in the same direction as the trend than to be against it. Most technical trading strategies are based on this assumption.
3. History tends to repeat itself Another important idea in technical analysis is that history tends to repeat itself, mainly in terms of price movement. The repetitive nature of price movements is attributed to market psychology; in other words, market participants tend to provide a consistent reaction to similar market stimuli over time. Technical analysis uses chart patterns to analyze market movements and understand trends. Although many of these charts have been used for more than 100 years, they are still believed to be relevant because they illustrate patterns in price movements that often repeat themselves.
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PURPOSE The project is being done as a part of summer internship program of AIT-School of Management. The completion of the project is a partial fulfillment requirement for being awarded the Post Graduate Diploma in Management, degree from the AICTE.
Scope of the Study
This study aims to make a technical analysis of Infosys technology ltd. The technical analysis is based on the historical data collected from the various web sites; this study also aims to discus in brief some common day trading strategies.
Objective of the Study
a. To compare the movement of stock price of Infosys technology with selected indices.
b. To identify the cause of movement.c. To identify the moment of buying and selling.d. To analyze the impact of news on price of Infosys technology.e. To suggest when to buy and when to sell.
Limitation of the Study
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Company informationInfosys Technologies Limited
Type Public BSE: 500209
NASDAQ: INFY
Founded July 2, 1981
Headquarters Bangalore, India Electronics City, Hosur Road
Key people N. R. Narayana Murthy (Chairman and Chief Mentor)
Nandan Nilekani (Co-Chairman)
Kris Gopalakrishnan (Chief Executive Officer and Managing Director)
S. D. Shibulal (Chief Operating Officer and Director)
Industry Software services
Products Finacle (a universal banking product)
Services Information technology consulting services and solutions
Revenue Rs. 21,693 crore ($4.66 billion) (FY 2008-09)[1]
Net income ▲ Rs. 5,988 crore ($1.28 billion) (FY 2008-09)[1]
Employees 104,850 [2]
Subsidiaries Infosys BPO
Infosys Consulting
Infosys Australia
Infosys China
Infosys Mexico
Infosys Sweden
Website www.infosys.com
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Introduction
Infosys Technologies Limited (BSE: 500209, NASDAQ: INFY) is a
multinational information technology services company headquartered
in Bangalore, India. It is one of India's largest IT companies with
104,850 professionals (including subsidiaries) as of Mar 31, 2009.It has
offices in 22 countries and development centers in India, China,
Australia, UK, Canada and Japan
History
Infosys was founded on July 2, 1981 in Pune by N. R. Narayana
Murthy and six others: Nandan Nilekani, N. S. Raghavan, Kris
Gopalakrishnan, S. D. Shibulal, K. Dinesh and Ashok Arora, with
Raghavan officially being the first employee of the company. Murthy
started the company by borrowing INR 10,000 from his wife Sudha
Murthy. The company was incorporated as "Infosys Consultants Pvt
Ltd.", with Raghavan's house in Model Colony, north-central Pune as
the registered office.
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In 1982, Infosys opened an office in Bangalore which soon became its
headquarters.
Infosys went public in 1993. Interestingly, Infosys IPO was
undersubscribed but it was "bailed out" by US investment banker
Morgan Stanley which picked up 13% of equity at the offer price of Rs.
95 per share. The share price surged to Rs. 8,100 by 1999 making it the
costliest share on the market at the time. At that time, Infosys was
among the 20 biggest companies by market capitalization on the
Nasdaq well ahead of Adobe Systems, Novell and Lycos.
According to Forbes magazine, since listing on the Bombay Stock
Exchange till the year 2000, Infosys' sales and earnings compounded at
more than 70% a year. In the year 2000, President of the United States
Bill Clinton complimented India on its achievements in high technology
areas citing the example of Infosys.
In 2001, it was rated Best Employer in India by Business Today.
Infosys won the Global MAKE (Most Admired Knowledge
Enterprises) award, for the years 2003, 2004 and 2005, being the only
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Indian company to win this award and is inducted into the Global Hall
of Fame for the same.
Infosys was rated best employer to work for in 2000, 2001, and 2002 by
Hewitt Associates. In 2007, Infosys received over 1.3 million
applications and hired less than 3% of applicants.
BusinessWeek reported that Infosys, along with Wipro and Tata
accounted for nearly 80% of the [H-1B] visa petitions approved in 2007
for the top 10 participants in the program.
In April 2009, Forbes rated Infosys among the 5 best performing
companies in the software and services sector in the world.
In 2009, Infosys was considered one of the BusinessWeek's 50 Most
Innovative Companies.
From December 2008 till April 2009, Infosys has fired over 2500
employees on account of bad performance. The company has been hit
hard by lower revenue from a crisis hit European and North American
market. On Aril 15, 2009 Infosys reported its first ever sequential fall in
its revenue in a decade during the March 2009 quarter.
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Infosys serves various industries through its Industrial Business Units (IBU), such as:
Banking & Capital Markets (BCM) Communications, Media and Entertainment (CME) Energy, Utilities and Services (EUS) Insurance, Healthcare and Life Sciences (IHL) Manufacturing (MFG) Retail, Consumer Product Goods and Logistics (RETL) New Markets and Services (NMS) : Non US and Non European
markets, SaaS, Learning Services India Business Unit (IND)
In addition to these, there are Horizontal Business Units (HBUs)
Consulting (CS) Enterprise Solutions (ES): ERP, CRM, HCM, SCM, BI/DW,
BPM-EAI Infrastructure Management Services (IMS) Product Engineering and Validation Services (PEVS) Systems Integration (SI) Finacle : Core Banking Product
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Management - Infosys
Name Designation
N R Narayana Murthy Chairman & Chief Mentor
S Gopalakrishnan Managing Director & CEO
Deepak M Satwalekar Independent Director
Omkar Goswami Independent Director
Claude Smadja Independent Director
David L Boyles Independent Director
K Dinesh Director
Srinath Batni Director
Name Designation
Nandan M Nilekani Co-Chairman
S D Shibulal Director & COO
Marti G Subrahmanyam Independent Director
Rama Bijapurkar Independent Director
Sridar A Iyengar Independent Director
Jeffrey S Lehman Independent Director
T V Mohandas Pai Director
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Kundapur Vaman Kamath Additional Director
Listing Details - Infosys Technologies
Key Dates
Year Ending Month MarAGM Date (Month) Jun
Book Closure Date (Month) Jun
Listing InformationFace Value Of Equity Shares 5Market Lot Of Equity Shares 1
BSE Code 500209NSE Code INFOSYSTCHBSE Group A
Whether The Company Forms A Part Of The Following Indices -
Sensex YesNifty Yes
BSE-100 YesBSE-200 Yes
S&P CNX 500 YesCNX Midcap NoCNX FMCG No
Listing OnListed On The Stock Exchange, Mumbai, National
Stock Exchange of India Ltd., NASDAQ Stock Exchange
Source : Religare TechnovaTable 1
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Infosys TechnologiesCapital Structure
Period Instrument --- CAPITAL (Rs. cr) --- - P A I D U P -
From To Authorised Issued Shares (nos) Face Value Capital
2008 2009 Equity Share 214.75 214.75 572830043 5 214.75
2007 2008 Equity Share 214.75 214.75 571995758 5 214.75
2006 2007 Equity Share 214.75 214.75 571209862 5 214.75
2005 2006 Equity Share 150 137.78 275554980 5 137.78
2004 2005 Equity Share 150 135.29 270570549 5 135.29
2003 2004 Equity Share 50 33.32 66641056 5 33.32
2002 2003 Equity Share 50 33.12 66243078 5 33.12
2001 2002 Equity Share 50 33.09 66186130 5 33.09
2000 2001 Equity Share 50 33.08 66158117 5 33.08
1999 2000 Equity Share 50 33.08 66150700 5 33.08
1998 1999 Equity Share 50 33.07 33069400 10 33.07
1997 1998 Equity Share 30 16.02 16017200 10 16.02
1996 1997 Equity Share 10 7.26 7259600 10 7.26
1995 1996 Equity Share 10 7.26 7258600 10 7.26
1994 1995 Equity Share 10 7.26 7258600 10 7.26
1993 1994 Equity Share 4 3.35 3352100 10 3.35
1992 1993 Equity Share 4 1.98 1976100 10 1.98
Table 2
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Share Holding Pattern
categories (Promoter & Non Promters)
Shareholding as on : 30/06/2009 31/03/2009 31/12/2008Face Value 5.00 5.00 5.00
No. Of Shares
% Holding
No. Of Shares
% Holding
No. Of Shares
% Holding
PROMOTER'S HOLDINGIndian Promoters 94484978 16.49 94484978 16.49 94484978 16.50Sub Total 94484978 16.49 94484978 16.49 94484978 16.50
NON PROMOTER'S HOLDINGInstitutional Investors
Mutual Funds and UTI
23826059 4.16 20519719 3.58 22620828 3.95
Banks Fin. Inst. and Insurance
23671621 4.13 23801421 4.16 26785309 4.68
FII's 204337813
35.66 199664124
34.86 188936523
32.99
Sub Total 251835493
43.95 243985264
42.59 238342660
41.62
Other InvestorsPrivate Corporate Bodies
22579774 3.94 20085568 3.51 21334356 3.73
NRI's/OCB's/Foreign Others
4956706 0.86 5105579 0.89 5204554 0.91
Others 107579021
18.77 112433187
19.63 112274054
19.61
Sub Total 135115501
23.58 137624334
24.03 138812964
24.24
General Public 91623205 15.99 96735467 16.89 101000901
17.64
Grand Total 573059177
100.00 572830043
100.00 572641503
100.00
Table 3
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AGM/EGM DETAILAnnouncementDate
Purpose Date Book Closure RemarksFrom To
15-04-2009 AGM 20-06-2009
06-06-2009
20-06-2009
270% Dividend
15-04-2008 AGM 14-06-2008
31-05-2008
14-06-2008
545% Dividend (Final Dividend 145% + Special Dividend 400%)
13-04-2007 AGM 22-06-2007
08-06-2007
22-06-2007
130% Final Dividend
11-10-2006 EGM 07-11-2006
- - To seek approval for the Secondary American Depositary Share Offering and expects the Offering to be completed thereafter.
14-04-2006 AGM 10-06-2006
27-05-2006
10-06-2006
770% Dividend (Rs. 30/- for Silver Jublee Special Dividend and Rs 8.50/- for Final Dividend)
14-04-2005 AGM 11-06-2005
03-06-2005
11-06-2005
Final dividend of Rs. 6.50 per share (130% on an equity share par value Rs. 5/-).
22-11-2004 EGM 18-12-2004
- - To sponsor the issue of American Depository Shares
13-04-2004 AGM 12-06-2004
28-05-2004
01-06-2004
Final dividend of Rs. 15/- per share (300% on an equity share par value Rs. 5/-) & Special one-time dividend of Rs. 100/- per share (2000% on an equity share par value of Rs. 5/-)
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(Revised)10-04-2003 AGM 14-06-
200330-05-2003
14-06-2003
AGM & Dividend 290%
28-01-2003 EGM 22-02-2003
- - To consider and approve the resolutions in connection with the Company's sponsored American Depository Shares Offering.
10-04-2002 AGM 08-06-2002
24-05-2002
08-06-2002
Final Dividend 250%
11-04-2001 AGM 02-06-2001
16-05-2001
02-06-2001
-
10-04-2000 AGM 27-05-2000
16-05-2000
27-05-2000
-
20-04-1999 AGM - 04-06-1999
12-06-1999
AGM & Dividend
10-04-1998 AGM - 19-05-1998
30-05-1998
-
16-10-1997 AGM - - - -16-04-1997 AGM - 28-05-
199707-06-1997
Revised from 23/5/97
Source : Religare TechnovaTable 4
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Dividends DeclaredAnnouncementDate
EffectiveDate
Dividend Type
Dividend (%)
Remarks
15-04-09 04-06-09 Final 270.00 -25-09-08 16-10-08 Interim 200.00 -15-04-08 29-05-08 Final 545.00 (Final Dividend 145% +
Special Dividend 400%)
26-09-07 18-10-07 Interim 120.00 -13-04-07 06-06-07 Final 130.00 AGM28-09-06 19-10-06 Interim 100.00 -14-04-06 25-05-06 Final 770.00 Silver Jubilee special
dividend of Rs. 30 per share (600% on par value of Rs. 5 per share) & final dividend of Rs. 8.50/- per share (170% on an equity share par value Rs. 5/-).
23-09-05 17-10-05 Interim 130.00 -14-04-05 01-06-05 Final 130.00 Final dividend of Rs.
6.50 per share (130% on an equity share par value Rs. 5/-).
01-10-04 18-10-04 Interim 100.00 (100% on a par value of Rs.5/- per share)
13-04-04 26-05-04 Final 2,300.00 Final dividend of Rs. 15/- per share (300% on an equity share par value Rs. 5/-) & Special one-time dividend of Rs. 100/- per share (2000% on an equity share par value of Rs. 5/-). (Revised)
Table 5Source : Religare Technova
Bonus HistoryAnnouncement Date
Bonus Ratio
Record Date
Ex-Bonus Date
14-04-2006 1:01 14-07-2006
13-07-2006
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13-04-2004 3:01 2/7/2004 1/7/2004
25-01-1999 1:01 5/3/1999 8/2/1999
18-06-1997 1:01 12/9/1997 19-08-1997
30-06-1994 1:01 15-09-1994
19-08-1994
Source : Religare Technova
Table 6
Splits History
Announcement Date
Old FV
New FV Ex-Split Date
30-11-1999 10 5 24-01-2000Source : Religare Technova
Table 7
Competition Last
PriceMarket
Cap.Sales Net
ProfitTotal
Assets(Rs. cr.) Turnover
Infosys 2,190.65 125,537.21 20,264.00 5,819.00 17,809.00TCS 540.8 105,846.51 22,404.00 4,696.21 13,486.62Wipro 564.9 82,795.01 20,987.30 2,973.80 17,528.90HCL Tech 306.45 20,540.01 4,675.09 997.31 3,465.91Oracle 1,752.45 14,680.17 2,212.62 695.71 2,812.65
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FinancMahindra Satyam
113.9 13,388.96 8,137.28 1,715.74 7,381.31
Mphasis 561.75 11,737.29 1,451.55 264.51 1,173.90Tech Mahindra
916 11,163.06 4,357.76 986.65 1,880.90
Financial 1,547.25 7,099.35 334.32 368.6 1,868.83TechPatni Computer
423.2 5,421.48 1,550.45 389.15 2,522.94
Table 8
Historical Price
Date Open high low Close Volume28-Aug-09 2,185.00 2,199.00 2,142.50 2,187.65 135,16427-Aug-09 2,180.00 2,202.70 2,121.20 2,189.75 196,20226-Aug-09 2,105.00 2,188.00 2,098.00 2,181.35 254,32425-Aug-09 2,068.00 2,104.00 2,041.00 2,096.10 151,54224-Aug-09 2,041.00 2,082.40 2,041.00 2,076.15 115,59321-Aug-09 1,993.05 2,036.15 1,972.00 2,028.50 232,78920-Aug-09 1,970.40 1,995.00 1,955.05 1,992.80 219,03319-Aug-09 1,985.00 1,988.00 1,936.00 1,950.70 150,65718-Aug-09 1,974.95 1,999.00 1,957.00 1,971.40 145,08217-Aug-09 2,015.00 2,018.70 1,971.25 1,983.05 105,48514-Aug-09 2,060.00 2,064.00 2,026.05 2,039.85 63,69712-Aug-09 2,080.00 2,080.00 2,000.00 2,042.75 70,493
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11-Aug-09 2,085.00 2,109.00 2,055.00 2,081.65 123,87010-Aug-09 2,052.00 2,113.00 2,050.05 2,086.80 225,757
7-Aug-09 2,025.00 2,056.00 2,015.00 2,041.90 79,7326-Aug-09 2,098.00 2,100.00 2,040.00 2,054.60 105,2795-Aug-09 2,050.55 2,105.00 2,050.55 2,094.55 163,5044-Aug-09 2,080.25 2,100.00 2,022.00 2,043.65 108,62531-Jul-09 2,031.00 2,076.95 2,021.10 2,063.90 301,66430-Jul-09 1,980.90 2,018.70 1,980.90 2,010.40 274,57029-Jul-09 1,980.90 1,997.70 1,950.00 1,983.75 106,92128-Jul-09 2,043.00 2,043.00 1,968.25 1,994.75 128,34327-Jul-09 2,005.00 2,043.90 1,996.30 2,025.30 143,67224-Jul-09 1,985.00 2,011.00 1,982.35 2,003.35 213,33923-Jul-09 1,947.00 1,976.00 1,935.00 1,959.85 968,73822-Jul-09 1,972.00 1,972.00 1,895.00 1,919.20 201,31121-Jul-09 2,025.00 2,025.00 1,925.05 1,943.10 121,10920-Jul-09 1,880.00 1,994.00 1,870.10 1,972.70 568,94417-Jul-09 1,817.00 1,873.00 1,801.00 1,867.00 241,07016-Jul-09 1,800.00 1,820.00 1,770.80 1,795.10 215,92915-Jul-09 1,819.00 1,819.00 1,759.20 1,790.95 196,34914-Jul-09 1,780.00 1,814.40 1,751.10 1,806.35 210,38813-Jul-09 1,720.00 1,774.45 1,710.00 1,767.95 205,27910-Jul-09 1,635.00 1,767.00 1,635.00 1,726.50 596,974
9-Jul-09 1,708.00 1,712.00 1,670.00 1,676.75 201,3478-Jul-09 1,725.00 1,733.00 1,688.00 1,705.70 225,7677-Jul-09 1,770.00 1,775.00 1,726.00 1,739.20 144,2823-Jul-09 1,780.00 1,810.00 1,750.00 1,800.90 111,9672-Jul-09 1,785.00 1,800.00 1,765.00 1,795.90 76,3121-Jul-09 1,776.80 1,812.90 1,771.05 1,796.70 99,230
30-Jun-09 1,785.05 1,799.00 1,760.00 1,776.90 115,37229-Jun-09 1,820.20 1,830.00 1,772.55 1,783.75 136,26626-Jun-09 1,770.00 1,838.70 1,752.35 1,826.75 216,84125-Jun-09 1,780.00 1,797.70 1,746.05 1,757.75 97,42324-Jun-09 1,751.10 1,773.90 1,722.20 1,759.15 109,49223-Jun-09 1,699.00 1,770.00 1,699.00 1,746.05 178,17622-Jun-09 1,775.00 1,790.00 1,749.15 1,765.75 99,74819-Jun-09 1,725.00 1,785.00 1,720.00 1,771.10 147,77718-Jun-09 1,710.00 1,760.00 1,694.00 1,721.45 166,08517-Jun-09 1,740.00 1,744.70 1,672.00 1,710.50 159,03816-Jun-09 1,702.00 1,733.75 1,685.35 1,724.15 83,07215-Jun-09 1,724.95 1,775.00 1,690.00 1,720.35 143,79612-Jun-09 1,766.00 1,775.00 1,717.00 1,727.95 92,75111-Jun-09 1,854.00 1,854.00 1,727.15 1,751.55 146,47610-Jun-09 1,790.00 1,836.00 1,762.05 1,803.25 289,306
9-Jun-09 1,720.00 1,800.00 1,720.00 1,795.55 226,4498-Jun-09 1,700.00 1,745.00 1,681.00 1,733.20 233,8925-Jun-09 1,644.80 1,705.00 1,633.30 1,690.55 217,1814-Jun-09 1,650.00 1,650.00 1,602.00 1,627.00 284,8763-Jun-09 1,699.00 1,705.00 1,622.00 1,645.90 185,0192-Jun-09 1,685.00 1,706.80 1,625.00 1,682.30 148,7711-Jun-09 1,605.00 1,685.00 1,605.00 1,676.85 232,541
29-May-09 1,600.00 1,614.70 1,579.80 1,602.00 185,00228-May-09 1,599.00 1,625.00 1,561.00 1,575.80 190,687
AIT-School Of Management, Greater Noida - 27 -
27-May-09 1,628.70 1,628.70 1,555.05 1,584.60 159,79526-May-09 1,515.00 1,558.00 1,502.00 1,543.20 215,68625-May-09 1,520.00 1,536.00 1,491.00 1,507.95 186,22322-May-09 1,499.00 1,525.00 1,485.05 1,519.40 230,80321-May-09 1,540.00 1,557.90 1,495.00 1,502.65 247,41720-May-09 1,547.00 1,608.00 1,518.20 1,534.10 406,89519-May-09 1,810.00 1,830.00 1,555.00 1,563.75 555,44918-May-09 1,752.00 1,810.00 1,694.00 1,750.20 5,21515-May-09 1,580.00 1,604.90 1,565.00 1,594.30 131,93114-May-09 1,539.95 1,586.90 1,533.60 1,566.15 86,22513-May-09 1,588.00 1,598.80 1,558.00 1,573.85 136,81112-May-09 1,500.00 1,605.00 1,500.00 1,597.95 258,19511-May-09 1,529.00 1,538.00 1,495.35 1,514.50 81,390
8-May-09 1,542.00 1,571.90 1,503.00 1,521.40 184,1067-May-09 1,575.00 1,581.00 1,532.45 1,554.70 173,1886-May-09 1,568.00 1,606.80 1,549.25 1,568.15 235,1825-May-09 1,602.00 1,635.00 1,542.60 1,582.95 310,0554-May-09 1,515.00 1,635.00 1,490.00 1,629.25 347,3371-May-09 1,507.30 1,507.30 1,507.30 1,507.30 030-Apr-09 1,507.30 1,507.30 1,507.30 1,507.30 029-Apr-09 1,440.00 1,514.90 1,433.10 1,507.30 272,71128-Apr-09 1,418.00 1,468.85 1,417.35 1,431.55 180,59027-Apr-09 1,430.00 1,450.00 1,417.10 1,432.60 112,68724-Apr-09 1,440.00 1,454.90 1,405.00 1,448.60 194,51523-Apr-09 1,380.00 1,460.00 1,380.00 1,449.85 259,81522-Apr-09 1,375.00 1,385.00 1,356.15 1,379.35 156,42821-Apr-09 1,380.00 1,390.00 1,354.00 1,363.50 80,78920-Apr-09 1,394.00 1,409.70 1,373.20 1,392.25 175,18417-Apr-09 1,365.00 1,420.80 1,353.00 1,393.10 330,29316-Apr-09 1,380.00 1,400.00 1,322.90 1,341.30 515,88215-Apr-09 1,351.50 1,382.00 1,300.05 1,370.80 777,43714-Apr-09 1,409.10 1,409.10 1,409.10 1,409.10 013-Apr-09 1,426.00 1,464.00 1,378.05 1,409.10 195,99810-Apr-09 1,426.45 1,426.45 1,426.45 1,426.45 0
9-Apr-09 1,433.00 1,447.00 1,398.00 1,426.45 187,2378-Apr-09 1,385.00 1,428.90 1,356.45 1,421.80 171,1757-Apr-09 1,414.45 1,414.45 1,414.45 1,414.45 06-Apr-09 1,425.00 1,457.00 1,275.00 1,414.45 266,9053-Apr-09 1,420.40 1,420.40 1,420.40 1,420.40 02-Apr-09 1,379.00 1,433.70 1,370.00 1,420.40 255,1541-Apr-09 1,326.00 1,384.00 1,303.00 1,375.50 128,175
31-Mar-09 1,306.00 1,340.00 1,300.05 1,324.10 128,74130-Mar-09 1,335.00 1,335.00 1,288.00 1,297.85 138,58527-Mar-09 1,398.00 1,398.00 1,330.00 1,346.75 279,51426-Mar-09 1,341.00 1,394.70 1,341.00 1,380.65 420,16425-Mar-09 1,320.00 1,349.40 1,310.00 1,339.60 234,16424-Mar-09 1,345.00 1,359.30 1,310.20 1,322.95 185,49223-Mar-09 1,300.00 1,340.05 1,300.00 1,330.70 152,10320-Mar-09 1,299.00 1,300.00 1,281.00 1,297.35 150,38119-Mar-09 1,284.00 1,311.00 1,282.35 1,295.85 255,48318-Mar-09 1,278.00 1,301.70 1,267.00 1,277.45 203,11617-Mar-09 1,280.00 1,289.00 1,257.50 1,265.55 156,103
AIT-School Of Management, Greater Noida - 28 -
16-Mar-09 1,305.10 1,305.10 1,269.00 1,288.25 179,01313-Mar-09 1,242.00 1,300.00 1,242.00 1,296.35 314,60012-Mar-09 1,215.00 1,253.70 1,215.00 1,227.15 251,868
9-Mar-09 1,216.00 1,219.45 1,191.00 1,196.75 192,6326-Mar-09 1,170.00 1,238.00 1,168.00 1,219.20 276,1675-Mar-09 1,213.50 1,213.50 1,176.15 1,182.80 96,8224-Mar-09 1,201.50 1,215.50 1,181.10 1,197.90 251,1673-Mar-09 1,214.90 1,214.90 1,190.35 1,197.60 152,1202-Mar-09 1,211.30 1,229.00 1,190.00 1,218.75 179,824
27-Feb-09 1,236.00 1,239.70 1,202.35 1,231.30 118,66726-Feb-09 1,216.00 1,240.00 1,200.55 1,236.35 193,55325-Feb-09 1,190.20 1,224.00 1,190.20 1,216.25 229,41224-Feb-09 1,160.00 1,191.05 1,146.40 1,184.10 122,87620-Feb-09 1,200.00 1,204.00 1,163.40 1,178.45 176,96419-Feb-09 1,185.00 1,213.00 1,172.00 1,208.20 220,07818-Feb-09 1,170.00 1,189.50 1,161.00 1,178.75 419,01917-Feb-09 1,201.00 1,217.85 1,168.80 1,177.65 245,81216-Feb-09 1,255.00 1,260.60 1,215.05 1,221.55 257,35913-Feb-09 1,261.00 1,275.00 1,246.20 1,254.70 145,25012-Feb-09 1,271.00 1,299.90 1,252.00 1,258.35 218,72511-Feb-09 1,300.00 1,305.00 1,276.65 1,302.55 181,01910-Feb-09 1,315.00 1,324.95 1,292.70 1,307.35 277,234
9-Feb-09 1,295.00 1,315.00 1,289.00 1,309.85 279,8006-Feb-09 1,260.00 1,294.00 1,247.00 1,287.20 198,5225-Feb-09 1,282.00 1,291.00 1,238.10 1,260.00 257,5964-Feb-09 1,282.40 1,307.25 1,279.00 1,282.95 118,2043-Feb-09 1,284.00 1,300.00 1,262.00 1,282.40 119,7952-Feb-09 1,293.00 1,298.00 1,267.05 1,278.80 414,598
30-Jan-09 1,300.00 1,312.00 1,285.00 1,305.50 253,49629-Jan-09 1,300.00 1,318.70 1,288.50 1,309.65 439,90028-Jan-09 1,252.00 1,296.10 1,252.00 1,285.20 160,02227-Jan-09 1,219.00 1,260.00 1,219.00 1,251.80 283,83323-Jan-09 1,229.55 1,235.05 1,191.25 1,203.95 527,79022-Jan-09 1,223.20 1,238.90 1,203.25 1,229.55 210,851
Table 9
Monthly Report
Price Behavior From March,09 – Aug 2009
AIT-School Of Management, Greater Noida - 29 -
Figure 1
During May 2009
Figure 21st June – 30th June +174.9 (10.92%)
Figure 31st July – 31st July, 2009 +287 (16.15%)
AIT-School Of Management, Greater Noida - 30 -
Resistance
Support
Resistance
Support
Figure 4
August 4, 2009 – August 28, 2009 + 123.75 (6%)
Figure 5
Difference between opening and closing
sl no. Date Open CloseOriginal Chang in
price
%chang in price
1 28-Aug-09 2,185.00 2,187.65 2.65 0.1212812 27-Aug-09 2,180.00 2,189.75 9.75 0.4472483 26-Aug-09 2,105.00 2,181.35 76.35 3.6270784 25-Aug-09 2,068.00 2,096.10 28.1 1.3588015 24-Aug-09 2,041.00 2,076.15 35.15 1.722195
AIT-School Of Management, Greater Noida - 31 -
Resistance
Support
Support
Resistance
6 21-Aug-09 1,993.05 2,028.50 35.45 1.7786817 20-Aug-09 1,970.40 1,992.80 22.4 1.1368258 19-Aug-09 1,985.00 1,950.70 -34.3 -1.727969 18-Aug-09 1,974.95 1,971.40 -3.55 -0.17975
10 17-Aug-09 2,015.00 1,983.05 -31.95 -1.5856111 14-Aug-09 2,060.00 2,039.85 -20.15 -0.9781612 12-Aug-09 2,080.00 2,042.75 -37.25 -1.7908713 11-Aug-09 2,085.00 2,081.65 -3.35 -0.1606714 10-Aug-09 2,052.00 2,086.80 34.8 1.69590615 7-Aug-09 2,025.00 2,041.90 16.9 0.83456816 6-Aug-09 2,098.00 2,054.60 -43.4 -2.0686417 5-Aug-09 2,050.55 2,094.55 44 2.14576618 4-Aug-09 2,080.25 2,043.65 -36.6 -1.759419 31-Jul-09 2,031.00 2,063.90 32.9 1.61989220 30-Jul-09 1,980.90 2,010.40 29.5 1.48922221 29-Jul-09 1,980.90 1,983.75 2.85 0.14387422 28-Jul-09 2,043.00 1,994.75 -48.25 -2.3617223 27-Jul-09 2,005.00 2,025.30 20.3 1.01246924 24-Jul-09 1,985.00 2,003.35 18.35 0.92443325 23-Jul-09 1,947.00 1,959.85 12.85 0.6599926 22-Jul-09 1,972.00 1,919.20 -52.8 -2.6774827 21-Jul-09 2,025.00 1,943.10 -81.9 -4.0444428 20-Jul-09 1,880.00 1,972.70 92.7 4.93085129 17-Jul-09 1,817.00 1,867.00 50 2.75178930 16-Jul-09 1,800.00 1,795.10 -4.9 -0.2722231 15-Jul-09 1,819.00 1,790.95 -28.05 -1.5420632 14-Jul-09 1,780.00 1,806.35 26.35 1.48033733 13-Jul-09 1,720.00 1,767.95 47.95 2.78779134 10-Jul-09 1,635.00 1,726.50 91.5 5.5963335 9-Jul-09 1,708.00 1,676.75 -31.25 -1.8296336 8-Jul-09 1,725.00 1,705.70 -19.3 -1.1188437 7-Jul-09 1,770.00 1,739.20 -30.8 -1.7401138 3-Jul-09 1,780.00 1,800.90 20.9 1.17415739 2-Jul-09 1,785.00 1,795.90 10.9 0.61064440 1-Jul-09 1,776.80 1,796.70 19.9 1.11999141 30-Jun-09 1,785.05 1,776.90 -8.15 -0.4565742 29-Jun-09 1,820.20 1,783.75 -36.45 -2.0025343 26-Jun-09 1,770.00 1,826.75 56.75 3.20621544 25-Jun-09 1,780.00 1,757.75 -22.25 -1.2545 24-Jun-09 1,751.10 1,759.15 8.05 0.45971146 23-Jun-09 1,699.00 1,746.05 47.05 2.76927647 22-Jun-09 1,775.00 1,765.75 -9.25 -0.5211348 19-Jun-09 1,725.00 1,771.10 46.1 2.67246449 18-Jun-09 1,710.00 1,721.45 11.45 0.66959150 17-Jun-09 1,740.00 1,710.50 -29.5 -1.695451 16-Jun-09 1,702.00 1,724.15 22.15 1.3014152 15-Jun-09 1,724.95 1,720.35 -4.6 -0.2666753 12-Jun-09 1,766.00 1,727.95 -38.05 -2.1545954 11-Jun-09 1,854.00 1,751.55 -102.45 -5.5258955 10-Jun-09 1,790.00 1,803.25 13.25 0.74022356 9-Jun-09 1,720.00 1,795.55 75.55 4.39244257 8-Jun-09 1,700.00 1,733.20 33.2 1.952941
AIT-School Of Management, Greater Noida - 32 -
58 5-Jun-09 1,644.80 1,690.55 45.75 2.78149359 4-Jun-09 1,650.00 1,627.00 -23 -1.3939460 3-Jun-09 1,699.00 1,645.90 -53.1 -3.1253761 2-Jun-09 1,685.00 1,682.30 -2.7 -0.1602462 1-Jun-09 1,605.00 1,676.85 71.85 4.47663663 29-May-09 1,600.00 1,602.00 2 0.12564 28-May-09 1,599.00 1,575.80 -23.2 -1.4509165 27-May-09 1,628.70 1,584.60 -44.1 -2.7076866 26-May-09 1,515.00 1,543.20 28.2 1.86138667 25-May-09 1,520.00 1,507.95 -12.05 -0.7927668 22-May-09 1,499.00 1,519.40 20.4 1.36090769 21-May-09 1,540.00 1,502.65 -37.35 -2.4253270 20-May-09 1,547.00 1,534.10 -12.9 -0.8338771 19-May-09 1,810.00 1,563.75 -246.25 -13.60572 18-May-09 1,752.00 1,750.20 -1.8 -0.1027473 15-May-09 1,580.00 1,594.30 14.3 0.90506374 14-May-09 1,539.95 1,566.15 26.2 1.70135475 13-May-09 1,588.00 1,573.85 -14.15 -0.8910676 12-May-09 1,500.00 1,597.95 97.95 6.5377 11-May-09 1,529.00 1,514.50 -14.5 -0.9483378 8-May-09 1,542.00 1,521.40 -20.6 -1.3359379 7-May-09 1,575.00 1,554.70 -20.3 -1.2888980 6-May-09 1,568.00 1,568.15 0.15 0.00956681 5-May-09 1,602.00 1,582.95 -19.05 -1.1891482 4-May-09 1,515.00 1,629.25 114.25 7.54125483 1-May-09 1,507.30 1,507.30 0 084 30-Apr-09 1,507.30 1,507.30 0 085 29-Apr-09 1,440.00 1,507.30 67.3 4.67361186 28-Apr-09 1,418.00 1,431.55 13.55 0.95557187 27-Apr-09 1,430.00 1,432.60 2.6 0.18181888 24-Apr-09 1,440.00 1,448.60 8.6 0.59722289 23-Apr-09 1,380.00 1,449.85 69.85 5.06159490 22-Apr-09 1,375.00 1,379.35 4.35 0.31636491 21-Apr-09 1,380.00 1,363.50 -16.5 -1.1956592 20-Apr-09 1,394.00 1,392.25 -1.75 -0.1255493 17-Apr-09 1,365.00 1,393.10 28.1 2.05860894 16-Apr-09 1,380.00 1,341.30 -38.7 -2.8043595 15-Apr-09 1,351.50 1,370.80 19.3 1.42804396 14-Apr-09 1,409.10 1,409.10 0 097 13-Apr-09 1,426.00 1,409.10 -16.9 -1.1851398 10-Apr-09 1,426.45 1,426.45 0 099 9-Apr-09 1,433.00 1,426.45 -6.55 -0.45708
100 8-Apr-09 1,385.00 1,421.80 36.8 2.65704101 7-Apr-09 1,414.45 1,414.45 0 0102 6-Apr-09 1,425.00 1,414.45 -10.55 -0.74035103 3-Apr-09 1,420.40 1,420.40 0 0104 2-Apr-09 1,379.00 1,420.40 41.4 3.002175105 1-Apr-09 1,326.00 1,375.50 49.5 3.733032106 31-Mar-09 1,306.00 1,324.10 18.1 1.385911107 30-Mar-09 1,335.00 1,297.85 -37.15 -2.78277108 27-Mar-09 1,398.00 1,346.75 -51.25 -3.66595109 26-Mar-09 1,341.00 1,380.65 39.65 2.956749
AIT-School Of Management, Greater Noida - 33 -
110 25-Mar-09 1,320.00 1,339.60 19.6 1.484848111 24-Mar-09 1,345.00 1,322.95 -22.05 -1.63941112 23-Mar-09 1,300.00 1,330.70 30.7 2.361538113 20-Mar-09 1,299.00 1,297.35 -1.65 -0.12702114 19-Mar-09 1,284.00 1,295.85 11.85 0.922897115 18-Mar-09 1,278.00 1,277.45 -0.55 -0.04304116 17-Mar-09 1,280.00 1,265.55 -14.45 -1.12891117 16-Mar-09 1,305.10 1,288.25 -16.85 -1.29109118 13-Mar-09 1,242.00 1,296.35 54.35 4.376006119 12-Mar-09 1,215.00 1,227.15 12.15 1120 9-Mar-09 1,216.00 1,196.75 -19.25 -1.58306
Total 487.15 Average
Table 10
Opening V/S Closing
AIT-School Of Management, Greater Noida - 34 -
Opening and Closing
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
28-A
ug-0
9
25-A
ug-0
9
20-A
ug-0
9
17-A
ug-0
9
11-A
ug-0
9
6-Aug
-09
31-J
ul-09
28-J
ul-09
23-J
ul-09
20-J
ul-09
15-J
ul-09
10-J
ul-09
7-Ju
l-09
1-Ju
l-09
26-J
un-0
9
23-J
un-0
9
18-J
un-0
9
15-J
un-0
9
10-J
un-0
9
5-Ju
n-09
2-Ju
n-09
28-M
ay-0
9
25-M
ay-0
9
20-M
ay-0
9
15-M
ay-0
9
12-M
ay-0
9
7-M
ay-0
9
4-M
ay-0
9
Date
Pri
ce Open
Close
Volume
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
5/4/
2009
5/11
/200
9
5/18
/200
9
5/25
/200
9
6/1/
2009
6/8/
2009
6/15
/200
9
6/22
/200
9
6/29
/200
9
7/6/
2009
7/13
/200
9
7/20
/200
9
7/27
/200
9
8/3/
2009
8/10
/200
9
8/17
/200
9
8/24
/200
9
Date
Pri
ce Volume
Figure 6
Interpretation
AIT-School Of Management, Greater Noida - 35 -
On an average the difference between opening and closing price is Rs.5. However it moves
between 25-50. The highest difference has been +114 on 4 may 2009, -246 on 19 may 2009, -
102 on 11th June 2009. Looking at volume and price charts it is clear that on 19 th of may volume
was high but change in price was negative it reveals that there was selling pressure in the
market.
Open V/s High
AIT-School Of Management, Greater Noida - 36 -
Open Vs High
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
5/4/
2009
5/11
/200
9
5/18
/200
9
5/25
/200
9
6/1/
2009
6/8/
2009
6/15
/200
9
6/22
/200
9
6/29
/200
9
7/6/
2009
7/13
/200
9
7/20
/200
9
7/27
/200
9
8/3/
2009
8/10
/200
9
8/17
/200
9
8/24
/200
9
Date
Pri
ce High
Open
Volume
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Date
Price
Volume
Figure 7
On an average difference between opening and high is Rs. 35 and the major change was 120,on
4th may, 105 12th may, 132 10th July, and 120 on 20th July. If we closely look at the chart or
difference between high and low than it is clear from data or chart that it moves in the range of
20-25.
Opening V/S Low
AIT-School Of Management, Greater Noida - 37 -
Opening Vs low
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
5/4/
2009
5/11
/200
9
5/18
/200
9
5/25
/200
9
6/1/
2009
6/8/
2009
6/15
/200
9
6/22
/200
9
6/29
/200
9
7/6/
2009
7/13
/200
9
7/20
/200
9
7/27
/200
9
8/3/
2009
8/10
/200
9
8/17
/200
9
8/24
/200
9
Date
Pri
ce Open
low
Volume
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Date
Price
Volume
Figure 8
Interpretation
On an average the Infosys technology goes low Rs.35, however the highest difference (opening-
Closing) was Rs 255 on 19 may 2009, 126 on 11th June, 99.95 on 21 July. but it may go low in
the range of 10-30.
Sensex V/s. Infosys
AIT-School Of Management, Greater Noida - 38 -
Sensex
Infosys
AIT-School Of Management, Greater Noida - 39 -
Figure 9Comparing Infosys chart with Sensex reveals another positive aspect of the stock. If we
look at the Sensex chart, it must notice that around July Sensex made lowest point while
Infosys did not breach even its June low which itself is higher than its May 2009 low. That
shows that Infosys was doing relatively batter than the general market.
AIT-School Of Management, Greater Noida - 40 -
Price – Volume Action
Good Price – Volume Action
Figure 10
Interpretation
Looking at the chart closely reveals that the stock more often than not rose on brisk trade.
On down days, stock eased on low volume. That's a good sign that indicates that big
institutional investors were not dumping the stock during the downturn. The support
from big investors and institutions is a must if stock is to make big moves upward.
AIT-School Of Management, Greater Noida - 41 -
Tools Used for Technical Analysis
Bollinger BandsOverviewBollinger Bands are similar to moving average envelopes. The difference between Bollinger Bands and envelopes is envelopes are plotted at a fixed percentage above and below a moving average, whereas Bollinger Bands are plotted at standard deviation levels above and below a moving average. Since standard deviation is a measure of volatility, the bands are self-adjusting: widening during volatile markets and contracting during calmer periods.
Bollinger Bands were created by John Bollinger.
Purpose
The purpose of Bollinger Bands is to provide a relative definition of high and low. By definition, prices are high at the upper band and low at the lower band. This definition can aid in rigorous pattern recognition and is useful in comparing price action to the action of indicators to arrive at systematic trading decisions
Figure 11
AIT-School Of Management, Greater Noida - 42 -
Figure 12
Figure 13
Interpretation
When the bands lie close together a period of low volatility in stock price is indicated. When they are far apart a period of high volatility in price is indicated. When the bands have only a slight slope and lie approximately parallel for an extended time the price of a stock will be found to oscillate up and down between the bands as though in a channel.
Mr. Bollinger notes the following characteristics of Bollinger Bands.
Sharp price changes tend to occur after the bands tighten, as volatility lessens. When prices move outside the bands, a continuation of the current trend is implied. Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands
call for reversals in the trend.
AIT-School Of Management, Greater Noida - 43 -
A move that originates at one band tends to go all the way to the other band. This observation is useful when projecting price targets.
Looking closely at chart reveals that July – August has been high volatility period and the
same will be in September-October. Because if we look at chart on September 2 2009 the
band tighten in the last hour it reveals that sharp change will be in next day.
Moving Average
OverviewA Moving Average is an indicator that shows the average value of a security's price over a period of time. When calculating a moving average, a mathematical analysis of the security's average value over a predetermined time period is made. As the security's price changes, its average price moves up or down.
Figure 14
AIT-School Of Management, Greater Noida - 44 -
Figure 15
Interpretation
The most popular method of interpreting a moving average is to compare the relationship between a
moving average of the security's price with the security's price itself. A buy signal is generated when the
security's price rises above its moving average and a sell signal is generated when the security's price
falls below its moving average.
In this case looking at charts it can be say that one can buy the stock because price rise above
its moving average in both the chart.
AIT-School Of Management, Greater Noida - 45 -
MACDOverviewThe MACD ("Moving Average Convergence/Divergence") is a trend following momentum indicator that shows the relationship between two moving averages of prices. The MACD was developed by Gerald Appel, publisher of Systems and Forecasts.
The MACD is the difference between a 26-day and 12-day exponential moving average. A 9-day exponential moving average, called the "signal" (or "trigger") line is plotted on top of the MACD to show buy/sell opportunities. (Appel specifies exponential moving averages as percentages as explained on page 170. Thus, he refers to these three moving averages as 7.5%, 15%, and 20% respectively.)
Figure 16
AIT-School Of Management, Greater Noida - 46 -
MACD Signal line
Interpretation
The MACD proves most effective in wide-swinging trading markets. There are three
popular ways to use the MACD: crossovers, overbought/oversold, and divergences.
Since both the chart depict that MACD rise above its signal line, a buy signal
occurs. Means still one can buy this share. However it is likely that the security
price is overextending and will soon return to more realistic levels. Looking
closely at 1st chart in MACD is making new low in July while prices fails to reach
new low, means a bearish divergence occurs which can be seen in the next month.
AIT-School Of Management, Greater Noida - 47 -
Momentum
Overview
The Momentum indicator measures the amount that a security's price has changed over a given
time span.
Figure 17
Interpretation
Looking at chart closely reveals that in may 2009 momentum indicator reach
extremely high value and then turns down, the same condition is there during June
, July and in August it reach extremely low values , it depict that that a
continuation of the current trend will be in future
AIT-School Of Management, Greater Noida - 48 -
Moving average crossover (parameter 9 and 30)
Figure 18
(Parameter 20, 50)
Figure 19
AIT-School Of Management, Greater Noida - 49 -
Interpretation
The most popular method of interpreting a single moving average is to compare
the relationship between moving averages of the security's price with the
security's price itself.
In this case in the month of July shorter moving average cross above the
longer moving average means there was a buying opportunity and looking at
the chart it can be say that buying decision in July was not wrong and again
it is likely to cross. Means one can buy this share because price is likely to go
high in next month.
AIT-School Of Management, Greater Noida - 50 -
Infosys From 2000-2008
AIT-School Of Management, Greater Noida - 51 -
News and Analysis
Date Particular Source28-
Aug Narayana Murthy's daughter to tie know on Aug 29 CIOL A quite weding for IT Czar's Daughter Deccan Herald Akshata's Mehendi Over, reception on Saturday Times Of India
27-Aug Govt may fail to keep its word to wipro, Infosys Livemint26-
Aug Infy rise on BP relationMarket Intelligence
Centre
BP Award Large Deal to infosys Technologies LtdReuters key
Development Infosys, Tata sign Big deal with BP, Advantage to tata ? Information week IBM, Indian outsourcers win services deal from BP Reuers Infosys Gets ouder from BP Group Wall Street Journal Sensex Closes UP 81 Pts, Infosys Leads Financial Express
25-Aug Stock Open Higher, Infosys, SBI lead Financial Express
Indian Shares Fall 0.8 pct, ICICI, Infosys drop (HCL Jumped 6 %0Reuters key
Development24-
Aug Infosys Outsourcing Unit Pursues Orders, Eyes Acquisitions Wall Street Journal23-
Aug Infosys BPO Partners US firm to proved Mortgage solution Business Standard
Less cost, Less hassle, Less paper:Infosys launches Customer communication Mgm portal for E PR-canada.net
20 Augut
Stock to watch: Sterlite Industries, HDFC,NMDC, REC,Sun Pharma, Jet Airwas, Infosys Economics Times
20 Agust Intra-Day Sell Infosys, ICICI Bank At… Sify
19-Aug Indian Shares fall 1.5 Pct, led by reliance
Reuters key Development
19-Aug Narayana Murthy to join NPCI My news in
Murthy to join NPCI Board as non-exe chairman Mydigitalfc.com
after Nilekani, NRN to take up a government assignmentMSN India (Domain-B
18-Aug Infosys looking for new billing modes to protect margins Economics Times
Infosys Pushing result-based sales modelDaily news &
analysis
Tough time to continue for another quarter or two:InfosysHindu Business
Line Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today
Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USA.net
17-Aug Infosys,Cognizant among world's 100 Fastest growing companies Economics Times
Infosys,among world's 100 fastest growing Cos Press Trust of India
AIT-School Of Management, Greater Noida - 52 -
Infosys,among world's 100 fastest growing Cos Sify Infosys is the most admired Indian Compan, WSJ survey Stock Watch Infosys most admired Andhra Café Infosys launches Communication Hub iTWire Communication Portal Cuts Costs ITBrief
16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times
Infosys has bid for over 10 govt dealsFinancial express ,
Reuters
Indian tech company infosys to expand operation in NZNew Zealand
Herald
Indian ADRs loss $ 1.44 bn in one week
Fianancial Express,Economics
Times,Siffy Six in top 10 Club add rs 28000 cr in mcap Press Trust of India
14-Aug Infosys posts growth but on track for drop in annual revene Smart brief
Infosys most admired Indian Company : WSJ survey
Press Trust of India, Economic Times,Deccan
Herald
Indian Shares fall 0.3 Pct, Infosys dropReuters, financial
express13-
Aug Infosys Prevails as Storm Brews in India's Tech Sector Wall Street Journal Infosys Looks to China Outsourcing Market for growth CIO Indian outsourcer cultivating chinese clients IT World Canada Infosys Demand evironment Better than it was Wall Street Journal Infosys Executive: demand environment better than it was EasyBourse.com Infosys seeing revival signs Times Of india
12-Aug Indian shares slip 0.4 pct, but buying reviving Reutes11-
AugIndependent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire
Infosys Named leader in SAP implementation EFY Times Forrester Lauds Infosys as SAP leader CIOL
Infosys eyes Latin american acquisitions,wins Bancoombia as clientISI-Emerging
Markets Sensex slides sharply, Nifty below 4500 India Infoline.com RPT-FEATURE-Talent building key challenge for India firms Reuters Talent building remains key challenge for Indian firms Livemint Talent building remains key challenge for Indian firms IBN Live.com
10-Aug Narayana Murthy mulls investment in green VC fund Business Standard
Infy to use internships to attract more global talent Rediff Narayana Murthy to invest in green VC fund Siliconindia.com
Stand out from the IT jobs crowd - top tips from Infosys Computer
Weekly.com Infosys Technologies (INFY) Bullish Technical Alert – Trend Up 65.1% comtex Smartrend Sell Infosys – Nirmal Bang Top News
9-Aug IT majors preparing strategy in line with revival of demand Business Standard
Infy, Wipro set up units to tap Indian, foreign govt mkt Economics Times IT majors prepare strategy in line with revival of demand Rediff
8- Infosys Inks Five-Year Deal with T-Mobile itVARnews.net
AIT-School Of Management, Greater Noida - 53 -
Aug7-
Aug Infosys BPO wins T-Mobile UK contract Trading Markets (press release)
6-Aug Infosys pursuing 12-15 deals in $1-b range
Hindu Business Line
Infosys Technologies (INFY) PriceWatch Alert For 8/6/2009 - Covered Call Risk Ranking Declines to 2 Keys
Market Intelligence Centre
Infosys signs strategic agreement with Bancolombia Thaindian.com Infy deploys Finacle soln for Bancolombia bank CIOL Colombian bank selects Infosys 'Finacle' soln Indopia Infosys signs five-year deal with T-Mobile UK Telecompaper
T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration
5-Aug 'Infosys is pursuing $1-bn deals in this quarter' Business Standard
July technology earnings highlights; INFY, INTC, TXN, AAPL, MSFT Learning Markets
Infosys Technologies (INFY) PriceWatch Alert For 8/5/2009 - Covered Call Risk Ranking Improves to 3 Keys
Market Intelligence Centre
Indian Stocks Rise, Erasing Earlier Losses; Infosys Gains Bloomberg India's Infosys pursuing deals worth $1 billion Reuters Infosys pursuing deals worth $1 bn Financial Express Infy, Wipro having second thoughts on Bengal plans Economics Times Markets open higher; Reliance Infra, Infosys surge Mydigitalfc.com Markets open higher; Reliance Infra, Infosys surge Sify Sensex back to its winning ways Press Trust of India Stocks open higher; Reliance Infra, Infosys surge Economics Times Indian shares rise in early deals Reuters
4-Aug
Infosys Technologies (INFY) PriceWatch Alert With 6.18% Downside Protection
Market Intelligence Centre
Infosys Technologies (INFY) PriceWatch Alert For 8/4/2009 - Covered Call Risk Ranking Declines to 2 Keys
Market Intelligence Centre
Infosys Technologies Ltd.'s Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard
Reuters key Development
Indian shares fall 0.6 pct; Bharti, ONGC drop Reuters Infosys BPO unit wins 5-year deal from T-Mobile UK Reuters India Infosys BPO inks five-year deal with T-Mobile UK Business Standard Infy BPO bags 5-year T-Mobile UK deal Times Of India Dettol tops 'green brands' list Rediff Infosys, Wipro among top 'green brands' in India CIOl Infosys, Wipro in top Green brands Times Of India Intra-Day: Sell Infosys at… 2115 Sify
3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters
Cognizant Tech's June quarter results will cheer IT investors Livemint Infosys gets CISF security cover Myiris.com In Economic Cloud, Infosys Sees a 'Green Lining' Network Computing F&O Outlook: Expect profit booking Business Standard
2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings
PR Web (press release)
31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $41.41
Market Intelligence Centre
Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 62.1% comtex Smartrend Infosys pays Rs 23-cr premium for Rs 10,000-cr cover Sify Govt support must to help IT achieve growth: Infosys Economics Times
AIT-School Of Management, Greater Noida - 54 -
30-Jul Infosys Wins 10-Year E-Government Contract From Commerce Ministry Indian Journal
Indian ADRs Gain $7 Billion; Infosys Leads the Pack Indian Journal29-Jul Asian companies get anti-terrorism advice and aid InternetNews.com
CISF to protect techies, not intrude on their private space Economics Times Infosys gets CISF cover Business Standard
28-Jul Nasscom Summit: HR of IT cos need to adapt to changes Hindu
Infosys believes growth picture will clear in a year Business Standard
Infosys Technologies (INFY) PriceWatch Alert For 7/31/2009 - Covered Call Risk Ranking Improves to 3 Keys
Market Intelligence Centre
SABMiller Selects Infosys Technologies EFY Times Infosys to Improve SABMiller's Marketing Campaigns CXOToday.com
SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects
Reuters key Development
Indian Outsourcing: Moving Past Economic Turmoil With A Positive Quarter
Trading Markets (press release)
Infosys eyeing Tier-II cities for expansion Indopia
Infosys eyeing smaller cities for expansion Hindu Business
Line
Infosys eyeing Tier II cities like Mysore, Kochi, MaduraiMSN India (Domain-B
Stocks turn negative; ICICI, Infosys drag Financial Express BSE Sensex falls 0.7 pct; ICICI, Infosys drop Reuters India Morning: Sensex falls 0.7%; ICICI, Infosys drop
Infosys to bid for UID projects; nobody to succeed Nilekani Trading Markets (press release)
Transparency to be maintained on inking UIAI deal: Infosys Indopia India tech stocks still a good play or overpriced? Reuters
27-Jul Top VARs Vie For $1 Billion IT Contract With BP
Gerson Lehrman group
Infosys pips TCS, Wipro in filing patents Sify TCS, Infosys Patni await clarity on ABN Amro outsourcing Economics Times All change at ABN? Computing
RBS yet to take a call on ABN's USD 500mn outsourcing contracts ISI-Emerging
Markets
Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence
Centre Recession? TCS, Infosys, Wipro, HCL bag large outsourcing deals Economics Times Indian outsourcers using slump to get bigger ZDNet Asia
IT firms speed up patent filing Hindu Business
Line
26-Jul Indian ADRs gain $7 billion; Infosys leads the pack
Hindu, Economics times, hindustan
Times
25-Jul
52-Week High Companies: China Life Insurance Company, Infosys Technologies, Archer Daniels Midland Company, Ford Motor Company, The TJX Companies, and Starbucks Corp. GuruFocus.com
24-Jul
Tata Consultancy Services Ltd And Infosys Technologies Ltd. Vie For $1 Billion BP Deal-Reuters
Reuters key Development
23-Jul India's Outsourcers: Using the Slump to Get Bigger Business Week
Indian outsourcers vie for $1 bln BP deal-report Reuters Indian outsourcers vie for US$1b BP deal Business times
AIT-School Of Management, Greater Noida - 55 -
(Subscription) IT has not reduced strategic investment: Infosys Economics Times IT industry hasn't reduced strategic investment: Infosys Business Standard No cost-cutting in critical areas: Infy Times Of India Indian shares rise 0.2 pct; Maruti continues rally Reuters
22-Jul IT companies reconciling to pay more tax as STP exemption ends
Hindu Business Line
The tough get going Business Standard Wipro's Q1 performance pales vs TCS, Infosys Economics Times Infosys bags railways' pilot project worth Rs.4 Crore Siliconindia.com
Infosys Technologies Ltd. Wins eBiz Project from Ministry of Commerce and Industry
Reuters key Development
21-Jul
Infosys move is obvious in providing cautious view due to market uncertainties
Gerson Lehrman group
Liquid funds may now fetch less for companies Economics Times India's Infosys wins 10-year contract from govt Reuters Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal Infosys bags ten-year govt e-biz project Financial Express
Infosys Technologies Ltd. Wins Ten Year Contract From Government- Reuters
Reuters key Development
Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswire.com
Infosys Opens First Philippine BPO Branch With Collaboration Platform From Cisco SYS-CON Media
Infosys opens BPO branch in Philippines with Cisco Telecompaper20-Jul Infosys to get CISF cover soon Deccan Herald
Infosys bags rlys' coach management project Business Standard Infosys bags Railways' coach management project MSN India Infosys bags Railways' coach management project Economics Times
19-Jul IT firms spend more on R&D to offer new services
Hindu Business Line
Infosys Finacle bags two major deals Economics Times Infosys' Finacle signs two major deals Siliconindia.com Infosys wins two major deals for direct banking solutions Itvoir
17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 44.4%
Trading Markets (press release)
India's Tata Consultancy Q1 net up; sees uncertainty Alibaba News
Channel16-Jul Heard on the Street Economics Times
Infy puts Rs 1,500cr in liquid MFs Times of India Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canada.net
15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News
Amartya Sen to chair Infosys Foundation jury for social sciences Thaindian.com14-Jul Nilekani: ID'ing the masses may solve Indian identity crisis MSN India
Oracle and Infosys jointly develop distribution offering Trading Markets (press release)
KRChoksey recommends to buy Infy, target of Rs.1824 Siliconindia.com Infosys Technologies nets $10-mn Intel pilot project Economics Times Earnings Preview: Q1FY10 Livemint
13-Jul Infosys, Wipro get CISF cover Business Standard
Infosys, Wipro to get CISF security cover Myiris.com
AIT-School Of Management, Greater Noida - 56 -
Infosys Q1 profit beats estimates Budapest Business
Journal Sensex recovers partially led by Infosys, ITC India Infoline.com
Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives
Prdomain Business register (press
Release) Infosys BPO bags award for diversity hiring initiatives Economics Times Stocks to Watch: TCS, Wipro, Infosys, NTC, RIL, Gammon India Economics Times
12-Jul Domestic market key to revenue growth Economics Times
Result Review: Infosys Technologies Livemint After Finacle, Infy back with new, smaller products Mydigitalfc.com
Infosys' revenues from BT to shrink further Hindu Business
Line Q1 Shock or surprise? Mydigitalfc.com Israeli cos in talks with TCS, Wipro, Infosys for IT deals Economics Times Corporate Round-up Economics Times
11-Jul Infosys Q1 net profit up 17% @ Rs1527 cr Utvi10-Jul Infosys sounds alert on lower FY10 income Economics Times
Infosys Technologies Ltd.- Result Update by Nirmal Bang Top News Infosys climbs nearly 4 pc on Nasdaq Economics Times
Infosys sees Q1 North America profits up 16% Business News
Americas Top Day Trader Alert Stocks (CIT, DELL, WDC, DDSS, INFY, ASML) 24/7 Wall St Infosys BPO eyes acquisition in US, Europe CIOL Outsider may be the next chairman of Infosys: Murthy Zee News
9-Jul Outsider may be the next chairman of Infosys: Murthy Reuter key
development Infosys looks to outbid rivals for UBS unit buy Economics Times Inflation Declines in India; Infosys Earnings 123 Jump.com Indian shares post biggest weekly fall in 8 mths Reuters Infosys 1Q Net +17%; Cuts This FY Rupee Outlook Wall Street Journal Infosys Profit Beats Estimates; Wins Large Orders Bloomberg8-Jul IT biggies set to report decline in Q1 numbers Mydigitalfc.com Infosys may revise dollar revenue guidance upward: Sharekhan Economics Times Movers roundup: Infosys, IntercontinentalExchange Forbes7-Jul Bearish option traders prep for Infosys (INFY) earnings StockHouse Options Update: Infosys (INFY) & Euro Currency Trust (FXE) The Option Insider Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsider.com Choppy Indian shares end flat; Infosys, ICICI fall Reuters
6-Jul Infosys faces bearish trade Option Monster
Research
Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)
1-Jul To survive, IT sector will have to innovate Livemint Infosys Technologies to declare Q1 results on July 10, 2009 Equity Bulls
Stocks to watch: GMR Infra, SBI, Reliance Power, TCS, Wipro, Infosys, United Spirits, DLF, Ispat, HCL Tech Economics Times
30-Jun Infosys reverberates at TCS annual meeting
Daily news & analysis
29-Jun Infosys Technologies to Announce First Quarter Results on July 10, 2009 Market Watch
AIT-School Of Management, Greater Noida - 57 -
Infosys Tech to announce Q1 results on July 10 India Infoline.com28-Jun Indian ADRs add $4 bn to their kitty; Infosys gains $1 bn Economics Times26-Jul Tax holidays must be extended: Infosys Utvi25-Jun IT majors vie for slice of UBS' offshoring contract Economics Times23-Jun ONGC to rope in Infosys for knowledge mgmt Myiris.com20-Jun Infosys Says It Is Keen on Overseas Acquisitions Business Week
TCS, Infosys see signs of recovery on order flow Economics Times Infy shareholders assured on auditing Deccan Herald
19-Jun Buy Infosys For Target Rs 1840: Ashwani Gujral Top News18-Jun
UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ
Reuters key Development
Infosys' Cuts Carbon Footprint By 5% India Journal Direct banking solution from Infosys Hindu Infosys seeks nod for fresh issue of ADR India Infoline.com
Stocks to watch: HDFC, HDFC Bank, Tata Communications, Hindalco, Wockhardt, Infosys, Bharti Economics Times
Infosys Files For Registration Of New Securities With SEC Wall Street Journal
Infosys Technologies Ltd.'s Infosys BPO Ltd. Gets Three Year $10 Million Order From Microsoft-DJ
Reuters key Development
UBS in talks with Infosys, Wipro for sale of BPO, KPO units Economics Times15-Jun Infosys eyes buys in Mexico, Brazil to improve operations
Hindu Business Line
Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire
Infosys Technologies Introduces iTransform™ Product Suite, One of Industry's ... SYS-CON Media
Finacle launches Direct Banking Solution to enable Rapid Global Expansion and Customer Acquisition Financial Express
14-Jun Infosys BPO on the hunt for low-cost rural locations Mydigitalfc.com
Infosys hopes huge business from Latin America Trading Markets (press release)
Avi Infosys, Dubai, receives ISO 9001:2008 Quality Management System Certification AME Info
US recovery speeding up' Hindustan times11-Jun Telstra Selects Infosys as a Key Strategic Partner IT News Online
Infosys explores new engagement models Computer Business
review10-Jun Infosys hopes huge business from Latin America Economics Times
Sell Infosys with stoploss of Rs 1830: Reliance Money Economics Times9-
Jun Sensex in India Surges 3%, Infosys, Satyam Rise 123Jumps.com8-
Jun Telstra Awards Contracts To IBM, EDS, Infosys Wall Street Journal Infosys BPO CEO: Expect FY Rev Growth Of Around 10% Wall Street Journal Infy sets up domestic BPO operation Business Standard
7-Jun Infosys Technologies Ltd. Plans To Set Up Unit In Brazil-DJ
Reuters key Development
AIT-School Of Management, Greater Noida - 58 -
Wal-Mart to Start Outsourcing More to India Business week Infosys plans to set up unit in Brazil Economics Times Infosys' energy utilisation 5 per cent lower in FY'09 Indopia
6-Jun India setting direction in use of IT in banking: Infosys Indopia
5-Jun Sensex Ends Near Ten-Month High Wall Street Journal
3-Jun IT exports from north grows 30% in FY'09, Infosys top exporter Economics Times
2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfc.com
Infosys invests Rs 63-cr in loss-making subsidiaries Zee News
News Date and ImpactNews Date
Open high low Close Volumeopen-close
high-open
open-low
28-Aug-09 2,185.00 2,199.00 2,142.50 2,187.65 135,164 -2.65
14.00 42.50
27-Aug-09 2,180.00 2,202.70 2,121.20 2,189.75 196,202 -9.75
22.70 58.80
26-Aug-09 2,105.00 2,188.00 2,098.00 2,181.35 254,324 -76.35
83.00 7.00
25-Aug-09 2,068.00 2,104.00 2,041.00 2,096.10 151,542 -28.10
36.00 27.00
24-Aug-09 2,041.00 2,082.40 2,041.00 2,076.15 115,593 -35.15
41.40 0.00
23-Aug-09 0.00
0.00 0.00
20-Aug-09 1,970.40 1,995.00 1,955.05 1,992.80 219,033 -22.40
24.60 15.35
19-Aug-09 1,985.00 1,988.00 1,936.00 1,950.70 150,657 34.30
3.00 49.00
18-Au
1,974.95 1,999.00 1,957.00 1,971.40 145,082 3.55 24.05
17.95
AIT-School Of Management, Greater Noida - 59 -
g-09
17-Aug-09 2,015.00 2,018.70 1,971.25 1,983.05 105,485 31.95
3.70 43.75
16-Aug-09 0.00
0.00 0.00
14-Aug-09 2,060.00 2,064.00 2,026.05 2,039.85 63,697 20.15
4.00 33.95
13-Aug-09 0.00
0.00 0.00
12-Aug-09 2,080.00 2,080.00 2,000.00 2,042.75 70,493 37.25
0.00 80.00
11-Aug-09 2,085.00 2,109.00 2,055.00 2,081.65 123,870 3.35
24.00 30.00
10-Aug-09 2,052.00 2,113.00 2,050.05 2,086.80 225,757 -34.80
61.00 1.95
9-Aug-09 0.00
0.00 0.00
8-Aug-09 0.00
0.00 0.00
7-Aug-09 2,025.00 2,056.00 2,015.00 2,041.90 79,732 -16.90
31.00 10.00
6-Aug-09 2,098.00 2,100.00 2,040.00 2,054.60 105,279 43.40
2.00 58.00
5-Aug-09 2,050.55 2,105.00 2,050.55 2,094.55 163,504 -44.00
54.45 0.00
4-Aug-09 2,080.25 2,100.00 2,022.00 2,043.65 108,625 36.60
19.75 58.25
3-Aug-
0.00 0.00
0.00
AIT-School Of Management, Greater Noida - 60 -
092-
Aug-09 0.00
0.00 0.00
31-Jul-09 2,031.00 2,076.95 2,021.10 2,063.90 301,664 -32.90
45.95 9.90
30-Jul-09 1,980.90 2,018.70 1,980.90 2,010.40 274,570 -29.50
37.80 0.00
29-Jul-09 1,980.90 1,997.70 1,950.00 1,983.75 106,921 -2.85
16.80 30.90
28-Jul-09 2,043.00 2,043.00 1,968.25 1,994.75 128,343 48.25
0.00 74.75
27-Jul-09 2,005.00 2,043.90 1,996.30 2,025.30 143,672 -20.30
38.90 8.70
26-Jul-09 0.00
0.00 0.00
25-Jul-09 0.00
0.00 0.00
24-Jul-09 1,985.00 2,011.00 1,982.35 2,003.35 213,339 -18.35
26.00 2.65
23-Jul-09 1,947.00 1,976.00 1,935.00 1,959.85 968,738 -12.85
29.00 12.00
22-Jul-09 1,972.00 1,972.00 1,895.00 1,919.20 201,311 52.80
0.00 77.00
21-Jul-09 2,025.00 2,025.00 1,925.05 1,943.10 121,109 81.90
0.00 99.95
20-Jul-09 1,880.00 1,994.00 1,870.10 1,972.70 568,944 -92.70
114.00 9.90
19-Jul-09 0.00
0.00 0.00
17-Jul-09 1,817.00 1,873.00 1,801.00 1,867.00 241,070 -50.00
56.00 16.00
16-Jul-09 1,800.00 1,820.00 1,770.80 1,795.10 215,929 4.90
20.00 29.20
15-Jul-09 1,819.00 1,819.00 1,759.20 1,790.95 196,349 28.05
0.00 59.80
14-Jul-09 1,780.00 1,814.40 1,751.10 1,806.35 210,388 -26.35
34.40 28.90
13- 1,720.00 1,774.45 1,710.00 1,767.95 205,279 -47.95 54. 10.00
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Jul-09 4512-Jul-09 0.00
0.00 0.00
11-Jul-09 0.00
0.00 0.00
10-Jul-09 1,635.00 1,767.00 1,635.00 1,726.50 596,974 -91.50
132.00 0.00
9-Jul-09 1,708.00 1,712.00 1,670.00 1,676.75 201,347 31.25
4.00 38.00
8-Jul-09 1,725.00 1,733.00 1,688.00 1,705.70 225,767 19.30
8.00 37.00
7-Jul-09 1,770.00 1,775.00 1,726.00 1,739.20 144,282 30.80
5.00 44.00
6-Jul-09 0.00
0.00 0.00
1-Jul-09 1,776.80 1,812.90 1,771.05 1,796.70 99,230 -19.90
36.10 5.75
30-Jun-09 1,785.05 1,799.00 1,760.00 1,776.90 115,372 8.15
13.95 25.05
29-Jun-09 1,820.20 1,830.00 1,772.55 1,783.75 136,266 36.45
9.80 47.65
28-Jun-09 0.00
0.00 0.00
26-Jun-09 1,770.00 1,838.70 1,752.35 1,826.75 216,841 -56.75
68.70 17.65
25-Jun-09 1,780.00 1,797.70 1,746.05 1,757.75 97,423 22.25
17.70 33.95
23-Jun-09 1,699.00 1,770.00 1,699.00 1,746.05 178,176 -47.05
71.00 0.00
20-Jun-09 0.00
0.00 0.00
19-Jun-
1,725.00 1,785.00 1,720.00 1,771.10 147,777 -46.10 60.00
5.00
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0918-Jun-09 1,710.00 1,760.00 1,694.00 1,721.45 166,085 -11.45
50.00 16.00
15-Jun-09 1,724.95 1,775.00 1,690.00 1,720.35 143,796 4.60
50.05 34.95
14-Jun-09 0.00
0.00 0.00
11-Jun-09 1,854.00 1,854.00 1,727.15 1,751.55 146,476 102.45
0.00 126.85
10-Jun-09 1,790.00 1,836.00 1,762.05 1,803.25 289,306 -13.25
46.00 27.95
9-Jun-09 1,720.00 1,800.00 1,720.00 1,795.55 226,449 -75.55
80.00 0.00
8-Jun-09 1,700.00 1,745.00 1,681.00 1,733.20 233,892 -33.20
45.00 19.00
7-Jun-09 0.00
0.00 0.00
6-Jun-09 0.00
0.00 0.00
5-Jun-09 1,644.80 1,705.00 1,633.30 1,690.55 217,181 -45.75
60.20 11.50
3-Jun-09 1,699.00 1,705.00 1,622.00 1,645.90 185,019 53.10
6.00 77.00
Table 11
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Block Deals
DateTyp
eCompany
Quantity
Price
25-Jun-09
BuyBARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX MAURITIUS CO
334554 1775
25-Jun-09
SellCITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL CODE
334554 1775
10-Jan-08
Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660
10-Jan-08
Sell JF ASSET MANAGEMENT FII 356000 1660
Table 12Option Price
Expiry Date Type Strike Price Quantity LTP Last Traded24 Sep '09 Call 2190.00 32000 76.00 28 Aug '09 15:5724 Sep '09 Put 2100.00 22800 42.00 28 Aug '09 15:0024 Sep '09 Call 2250.00 15000 50.50 28 Aug '09 15:3424 Sep '09 Put 2190.00 12400 74.80 28 Aug '09 15:3524 Sep '09 Call 2280.00 11000 38.75 28 Aug '09 15:3424 Sep '09 Call 2160.00 9000 96.00 28 Aug '09 15:5324 Sep '09 Put 2160.00 7800 63.90 28 Aug '09 15:5324 Sep '09 Put 2010.00 6000 22.85 28 Aug '09 15:5929 Oct '09 Call 2280.00 5600 88.55 28 Aug '09 15:3424 Sep '09 Call 2220.00 5200 65.00 28 Aug '09 15:3424 Sep '09 Put 1890.00 4600 6.00 28 Aug '09 15:5424 Sep '09 Put 2040.00 4200 21.00 28 Aug '09 15:5924 Sep '09 Put 2070.00 3600 27.10 28 Aug '09 15:5924 Sep '09 Call 2130.00 1600 95.00 28 Aug '09 15:3424 Sep '09 Put 1980.00 1600 14.50 28 Aug '09 15:3224 Sep '09 Put 2130.00 1400 48.00 28 Aug '09 15:3424 Sep '09 Put 1890.00 400 11.00 26 Aug '09 14:0024 Sep '09 Put 1920.00 400 13.55 26 Aug '09 15:2529 Oct '09 Put 2160.00 400 131.20 28 Aug '09 15:5629 Oct '09 Call 2160.00 200 128.00 28 Aug '09 14:39
Table 13
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Figure 20
Finding:
SUPPORT AND RESISTANCE LEVEL FOR 2nd and 3rd WEEK OF September
“Looking at the above given information we can project the new Support Level at 2100 points and Resistance Level at 2250 points for the Second and third week of September”.
SUPPORT AND RESISTANCE LEVEL FOR THE MONTH OF SEPTEMBER 2009
Beginning of September the news could be favorable but will the same Support and Resistance Level maintain for the rest of the weeks; I have done research on it and made the conclusion that it will be maintaining the same levels.
REASONS:I. Looking closely at Monthly chart it is clear that last month Resistance become
Support for next month and the same can be predicted for September.II. 2nd quarter result may be favorable.
Recommendation*:1. One can buy it2. Since the maximum price has been ------------ , so in the near future it may
likely to go down, because it has been overpriced.3. One can hold it for a shorter period.
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BIBLIOGRAPHY
1. “Security Analysis and Portfolio Management” By “Pandian Punithavathy”.
2. “Investment Analysis and Portfolio Management” By “Ranganatham. M and “Madhumathi. R”.
3.
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