Below is the technical chart of Infosys Ltd., listed on Indian stock exchange, using Ichimoku indicator. Time frame used is daily.

 

 

 

 



Its technical chart shows that the price is itrading inside kumo, which is a no-trade zone. It can move upwards also and it can move downwards also. So, it's better to sit on cash rather to play gamble at this stage. 

On the upside, it got resistance at 2555. Crossing it, it can touch 2595, where it will again face tough resistance. On the downside, it got support @2425.

In a summary, it's better not to trade in this share till technical charts are clear. There are always better opportunities in the market.

Infosys Technical Chart | 12-July-2012
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