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

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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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Abstract
Stock 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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Content
Abstract..............................................................................................7
1. Introduction
8
a. What is Technical Analysis?..........................................................8
b. Technical Analysis: The Basic Assumption................................10
c. Purpose........................................................................................11
d. Objective......................................................................................11
e. Limitation....................................................................................11
2. Company Information
12-16
a. Management-Infosys...................................................................17
3. Technical Analysis (Share Data )
a. Listing Details – Infosys Technology..........................................18
b. Capital Structure..........................................................................19
c. Share Holding Pattern.................................................................20
d. AGM/EGM Details.....................................................................21
e. Dividend Declare.........................................................................23
f. Bonus History..............................................................................24
g. Split History................................................................................24
h. Competition.................................................................................25
4. Historical Price 26
5. Analysis
a. Monthly Report (chart showing price movement)......................30
b. Difference Between opening and closing price...........................31
c. Opening V/S Closing...................................................................34
d. Opening V/S High.......................................................................36
e. Opening V/S Low........................................................................37
f. Sensex V/S Infosys......................................................................38
g. Price Volume Action....................................................................40
6. Tools Used For Technical Analysis and Interpretation
41
a. Bollinger Band............................................................................41
b. Moving Average..........................................................................43
c. MACD.........................................................................................45
d. Momentum..................................................................................47
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Moving average crossover...........................................................48
f. Infosys From 2000 to March 2009..............................................50
News Analysis 51
e.

7.

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8. Block Deals
64
9. Option Price
64
10. Finding And Recommendation
11.Bibliography 66

Sl. No.
Table 1
Table 2
Table 3
Table 4
Table 5
Table 5
Table 6
Table 7
Table 8
Table 9
Table 10
Table 11
Table 11

65

List of Tables
Particular
Management Infosys
Listing Detail
Capital Structure
Share Holding Pattern
AGM/EGM Detail
Dividend Details
Bonus History
Split History
Competition
Historical Price
News Analysis
Block Deals
Option Price

Page No.
17
18
19
20
21
23
24
24
25
26
51
64
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
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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.

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 information
Infosys Technologies Limited

Type

Public BSE: 500209
NASDAQ: INFY

Founded
Headquarters
Key people

July 2, 1981
Bangalore, India Electronics City, Hosur Road
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.

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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 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
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American market. On Aril 15, 2009 Infosys reported its first ever
sequential fall in its revenue in a decade during the March 2009
quarter.

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

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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

Kundapur Vaman Kamath

Additional Director

Listing Details - Infosys Technologies
Key Dates
Year Ending Month
AGM Date (Month)
Book Closure Date (Month)

Mar
Jun
Jun

Listing Information
Face Value Of Equity Shares
Market Lot Of Equity Shares
BSE Code
NSE Code
BSE Group

5
1
500209
INFOSYSTCH
A

Whether The Company Forms A Part Of The Following Indices Sensex
Nifty
BSE-100
BSE-200
S&P CNX 500
CNX Midcap
CNX FMCG

Yes
Yes
Yes
Yes
Yes
No
No

Listing On
Listed On

The Stock Exchange, Mumbai, National
Stock Exchange of India Ltd., NASDAQ
Stock Exchange

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Source : Religare Technova
Table 1

Infosys Technologies

Capital Structure
Period
From

To

2008

2009

2007

Instrument

--- CAPITAL (Rs. cr) ---

- PAI D U P-

Authorised

Issued

Shares (nos)

Face Value

Capital

Equity Share

214.75

214.75

572830043

5

214.75

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

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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

Share Holding Pattern
categories (Promoter & Non Promters)

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Shareholding as on :
Face Value

30/06/2009
5.00
No. Of
%
Shares
Holding

31/03/2009
5.00
No. Of
%
Shares
Holding

31/12/2008
5.00
No. Of
%
Shares
Holding

PROMOTER'S HOLDING
Indian Promoters
Sub Total

94484978
94484978

16.49
16.49

94484978
94484978

16.49
16.49

94484978
94484978

16.50
16.50

NON PROMOTER'S HOLDING
Institutional Investors
Mutual Funds and UTI
Banks Fin. Inst. and
Insurance
FII's
Sub Total

23826059
23671621

4.16
4.13

20519719
23801421

3.58
4.16

22620828
26785309

3.95
4.68

20433781
3
25183549
3

35.66

19966412
4
24398526
4

34.86

18893652
3
23834266
0

32.99

43.95

42.59

41.62

Other Investors
Private Corporate
Bodies
NRI's/OCB's/Foreign
Others
Others

22579774

3.94

20085568

3.51

21334356

3.73

4956706

0.86

5105579

0.89

5204554

0.91

10757902
1
135115501

18.77

112433187

19.63

112274054

19.61

23.58

24.03

91623205

15.99

Grand Total

57305917
7

100.00

57283004
3

100.00

13881296
4
10100090
1
57264150
3

24.24

General Public

13762433
4
96735467

Sub Total

16.89

17.64
100.00

Table 3

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AGM/EGM DETAIL
Announcement
Date
15-04-2009

Purpose

15-04-2008

AGM

13-04-2007

AGM

11-10-2006

EGM

14-04-2006

AGM

Date
20-062009
14-062008

Book Closure
From
To
06-0620-062009
2009
31-0514-062008
2008

22-062007
07-112006

08-062007
-

22-062007
-

AGM

10-062006

27-052006

10-062006

14-04-2005

AGM

11-062005

03-062005

11-062005

22-11-2004

EGM

18-122004

-

-

13-04-2004

AGM

12-062004

28-052004

01-062004

10-04-2003

AGM

28-01-2003

EGM

14-062003
22-022003

30-052003
-

14-062003
-

Remarks
270% Dividend
545% Dividend (Final
Dividend 145% +
Special Dividend
400%)
130% Final Dividend
To seek approval for
the Secondary
American Depositary
Share Offering and
expects the Offering
to be completed
thereafter.
770% Dividend (Rs.
30/- for Silver Jublee
Special Dividend and
Rs 8.50/- for Final
Dividend)
Final dividend of Rs.
6.50 per share (130%
on an equity share par
value Rs. 5/-).
To sponsor the issue
of American
Depository Shares
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)
AGM & Dividend
290%
To consider and
approve the
resolutions in

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10-04-2002

AGM

11-04-2001

AGM

10-04-2000

AGM

20-04-1999

AGM

08-062002
02-062001
27-052000
-

10-04-1998

AGM

-

16-10-1997
16-04-1997

AGM
AGM

-

24-052002
16-052001
16-052000
04-061999
19-051998
28-051997

08-062002
02-062001
27-052000
12-061999
30-051998
07-061997

connection with the
Company's sponsored
American Depository
Shares Offering.
Final Dividend 250%
AGM & Dividend
Revised from 23/5/97

Source : Religare Technova
Table 4

Dividends Declared
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Announcement
Date
15-04-09
25-09-08
15-04-08

Effective
Date
04-06-09
16-10-08
29-05-08

Dividend
Type
Final
Interim
Final

Dividend
(%)
270.00
200.00
545.00

26-09-07
13-04-07
28-09-06
14-04-06

18-10-07
06-06-07
19-10-06
25-05-06

Interim
Final
Interim
Final

120.00
130.00
100.00
770.00

23-09-05
14-04-05

17-10-05
01-06-05

Interim
Final

130.00
130.00

01-10-04

18-10-04

Interim

100.00

13-04-04

26-05-04

Final

2,300.00

Remarks
(Final Dividend 145% +
Special Dividend 400%)
AGM
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/-).
Final dividend of Rs.
6.50 per share (130%
on an equity share par
value Rs. 5/-).
(100% on a par value of
Rs.5/- per share)
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 5
Source : Rel iga re T echno va

Bonus History
Announcement
Date

Bonus
Ratio

Record
Date

Ex-Bonus Date

14-04-2006

1:01

14-072006

13-07-2006

13-04-2004

3:01

2/7/2004

1/7/2004

25-01-1999

1:01

5/3/1999

8/2/1999

AIT-School Of Management, Greater Noida

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18-06-1997

1:01

12/9/1997

19-08-1997

30-06-1994

1:01

15-091994

19-08-1994

So urce : Religar e T ech nov a

Table 6

Splits History
Announcement
Date

Old
FV

New
FV

Ex-Split Date

30-11-1999
10
5
Source : Religare Technova

24-01-2000

Table 7

Competition
Last
Price
Infosys
TCS
Wipro
HCL Tech
Oracle
Financ
Mahindra

2,190.65
540.8
564.9
306.45
1,752.45

Market
Cap.
(Rs. cr.)
125,537.21
105,846.51
82,795.01
20,540.01
14,680.17

113.9

13,388.96

Sales

Net
Profit

Total
Assets

Turnover
20,264.00
22,404.00
20,987.30
4,675.09
2,212.62

5,819.00
4,696.21
2,973.80
997.31
695.71

17,809.00
13,486.62
17,528.90
3,465.91
2,812.65

8,137.28

1,715.74

7,381.31

AIT-School Of Management, Greater Noida

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Satyam
Mphasis
Tech
Mahindra
Financial
Tech
Patni
Computer

561.75
916

11,737.29
11,163.06

1,451.55
4,357.76

264.51
986.65

1,173.90
1,880.90

1,547.25

7,099.35

334.32

368.6

1,868.83

423.2

5,421.48

1,550.45

389.15

2,522.94

Close
2,187.65
2,189.75
2,181.35
2,096.10
2,076.15
2,028.50
1,992.80
1,950.70
1,971.40
1,983.05
2,039.85
2,042.75

Volume
135,164
196,202
254,324
151,542
115,593
232,789
219,033
150,657
145,082
105,485
63,697
70,493

Table 8

Historical Price
Date
28-Aug-09
27-Aug-09
26-Aug-09
25-Aug-09
24-Aug-09
21-Aug-09
20-Aug-09
19-Aug-09
18-Aug-09
17-Aug-09
14-Aug-09
12-Aug-09

Open
2,185.00
2,180.00
2,105.00
2,068.00
2,041.00
1,993.05
1,970.40
1,985.00
1,974.95
2,015.00
2,060.00
2,080.00

high
2,199.00
2,202.70
2,188.00
2,104.00
2,082.40
2,036.15
1,995.00
1,988.00
1,999.00
2,018.70
2,064.00
2,080.00

low
2,142.50
2,121.20
2,098.00
2,041.00
2,041.00
1,972.00
1,955.05
1,936.00
1,957.00
1,971.25
2,026.05
2,000.00

AIT-School Of Management, Greater Noida

- 28 -

11-Aug-09
10-Aug-09
7-Aug-09
6-Aug-09
5-Aug-09
4-Aug-09
31-Jul-09
30-Jul-09
29-Jul-09
28-Jul-09
27-Jul-09
24-Jul-09
23-Jul-09
22-Jul-09
21-Jul-09
20-Jul-09
17-Jul-09
16-Jul-09
15-Jul-09
14-Jul-09
13-Jul-09
10-Jul-09
9-Jul-09
8-Jul-09
7-Jul-09
3-Jul-09
2-Jul-09
1-Jul-09
30-Jun-09
29-Jun-09
26-Jun-09
25-Jun-09
24-Jun-09
23-Jun-09
22-Jun-09
19-Jun-09
18-Jun-09
17-Jun-09
16-Jun-09
15-Jun-09
12-Jun-09
11-Jun-09
10-Jun-09
9-Jun-09
8-Jun-09
5-Jun-09
4-Jun-09
3-Jun-09
2-Jun-09
1-Jun-09
29-May-09

2,085.00
2,052.00
2,025.00
2,098.00
2,050.55
2,080.25
2,031.00
1,980.90
1,980.90
2,043.00
2,005.00
1,985.00
1,947.00
1,972.00
2,025.00
1,880.00
1,817.00
1,800.00
1,819.00
1,780.00
1,720.00
1,635.00
1,708.00
1,725.00
1,770.00
1,780.00
1,785.00
1,776.80
1,785.05
1,820.20
1,770.00
1,780.00
1,751.10
1,699.00
1,775.00
1,725.00
1,710.00
1,740.00
1,702.00
1,724.95
1,766.00
1,854.00
1,790.00
1,720.00
1,700.00
1,644.80
1,650.00
1,699.00
1,685.00
1,605.00
1,600.00

2,109.00
2,113.00
2,056.00
2,100.00
2,105.00
2,100.00
2,076.95
2,018.70
1,997.70
2,043.00
2,043.90
2,011.00
1,976.00
1,972.00
2,025.00
1,994.00
1,873.00
1,820.00
1,819.00
1,814.40
1,774.45
1,767.00
1,712.00
1,733.00
1,775.00
1,810.00
1,800.00
1,812.90
1,799.00
1,830.00
1,838.70
1,797.70
1,773.90
1,770.00
1,790.00
1,785.00
1,760.00
1,744.70
1,733.75
1,775.00
1,775.00
1,854.00
1,836.00
1,800.00
1,745.00
1,705.00
1,650.00
1,705.00
1,706.80
1,685.00
1,614.70

2,055.00
2,050.05
2,015.00
2,040.00
2,050.55
2,022.00
2,021.10
1,980.90
1,950.00
1,968.25
1,996.30
1,982.35
1,935.00
1,895.00
1,925.05
1,870.10
1,801.00
1,770.80
1,759.20
1,751.10
1,710.00
1,635.00
1,670.00
1,688.00
1,726.00
1,750.00
1,765.00
1,771.05
1,760.00
1,772.55
1,752.35
1,746.05
1,722.20
1,699.00
1,749.15
1,720.00
1,694.00
1,672.00
1,685.35
1,690.00
1,717.00
1,727.15
1,762.05
1,720.00
1,681.00
1,633.30
1,602.00
1,622.00
1,625.00
1,605.00
1,579.80

2,081.65
2,086.80
2,041.90
2,054.60
2,094.55
2,043.65
2,063.90
2,010.40
1,983.75
1,994.75
2,025.30
2,003.35
1,959.85
1,919.20
1,943.10
1,972.70
1,867.00
1,795.10
1,790.95
1,806.35
1,767.95
1,726.50
1,676.75
1,705.70
1,739.20
1,800.90
1,795.90
1,796.70
1,776.90
1,783.75
1,826.75
1,757.75
1,759.15
1,746.05
1,765.75
1,771.10
1,721.45
1,710.50
1,724.15
1,720.35
1,727.95
1,751.55
1,803.25
1,795.55
1,733.20
1,690.55
1,627.00
1,645.90
1,682.30
1,676.85
1,602.00

AIT-School Of Management, Greater Noida

123,870
225,757
79,732
105,279
163,504
108,625
301,664
274,570
106,921
128,343
143,672
213,339
968,738
201,311
121,109
568,944
241,070
215,929
196,349
210,388
205,279
596,974
201,347
225,767
144,282
111,967
76,312
99,230
115,372
136,266
216,841
97,423
109,492
178,176
99,748
147,777
166,085
159,038
83,072
143,796
92,751
146,476
289,306
226,449
233,892
217,181
284,876
185,019
148,771
232,541
185,002

- 29 -

28-May-09
27-May-09
26-May-09
25-May-09
22-May-09
21-May-09
20-May-09
19-May-09
18-May-09
15-May-09
14-May-09
13-May-09
12-May-09
11-May-09
8-May-09
7-May-09
6-May-09
5-May-09
4-May-09
1-May-09
30-Apr-09
29-Apr-09
28-Apr-09
27-Apr-09
24-Apr-09
23-Apr-09
22-Apr-09
21-Apr-09
20-Apr-09
17-Apr-09
16-Apr-09
15-Apr-09
14-Apr-09
13-Apr-09
10-Apr-09
9-Apr-09
8-Apr-09
7-Apr-09
6-Apr-09
3-Apr-09
2-Apr-09
1-Apr-09
31-Mar-09
30-Mar-09
27-Mar-09
26-Mar-09
25-Mar-09
24-Mar-09
23-Mar-09
20-Mar-09
19-Mar-09

1,599.00
1,628.70
1,515.00
1,520.00
1,499.00
1,540.00
1,547.00
1,810.00
1,752.00
1,580.00
1,539.95
1,588.00
1,500.00
1,529.00
1,542.00
1,575.00
1,568.00
1,602.00
1,515.00
1,507.30
1,507.30
1,440.00
1,418.00
1,430.00
1,440.00
1,380.00
1,375.00
1,380.00
1,394.00
1,365.00
1,380.00
1,351.50
1,409.10
1,426.00
1,426.45
1,433.00
1,385.00
1,414.45
1,425.00
1,420.40
1,379.00
1,326.00
1,306.00
1,335.00
1,398.00
1,341.00
1,320.00
1,345.00
1,300.00
1,299.00
1,284.00

1,625.00
1,628.70
1,558.00
1,536.00
1,525.00
1,557.90
1,608.00
1,830.00
1,810.00
1,604.90
1,586.90
1,598.80
1,605.00
1,538.00
1,571.90
1,581.00
1,606.80
1,635.00
1,635.00
1,507.30
1,507.30
1,514.90
1,468.85
1,450.00
1,454.90
1,460.00
1,385.00
1,390.00
1,409.70
1,420.80
1,400.00
1,382.00
1,409.10
1,464.00
1,426.45
1,447.00
1,428.90
1,414.45
1,457.00
1,420.40
1,433.70
1,384.00
1,340.00
1,335.00
1,398.00
1,394.70
1,349.40
1,359.30
1,340.05
1,300.00
1,311.00

1,561.00
1,555.05
1,502.00
1,491.00
1,485.05
1,495.00
1,518.20
1,555.00
1,694.00
1,565.00
1,533.60
1,558.00
1,500.00
1,495.35
1,503.00
1,532.45
1,549.25
1,542.60
1,490.00
1,507.30
1,507.30
1,433.10
1,417.35
1,417.10
1,405.00
1,380.00
1,356.15
1,354.00
1,373.20
1,353.00
1,322.90
1,300.05
1,409.10
1,378.05
1,426.45
1,398.00
1,356.45
1,414.45
1,275.00
1,420.40
1,370.00
1,303.00
1,300.05
1,288.00
1,330.00
1,341.00
1,310.00
1,310.20
1,300.00
1,281.00
1,282.35

1,575.80
1,584.60
1,543.20
1,507.95
1,519.40
1,502.65
1,534.10
1,563.75
1,750.20
1,594.30
1,566.15
1,573.85
1,597.95
1,514.50
1,521.40
1,554.70
1,568.15
1,582.95
1,629.25
1,507.30
1,507.30
1,507.30
1,431.55
1,432.60
1,448.60
1,449.85
1,379.35
1,363.50
1,392.25
1,393.10
1,341.30
1,370.80
1,409.10
1,409.10
1,426.45
1,426.45
1,421.80
1,414.45
1,414.45
1,420.40
1,420.40
1,375.50
1,324.10
1,297.85
1,346.75
1,380.65
1,339.60
1,322.95
1,330.70
1,297.35
1,295.85

AIT-School Of Management, Greater Noida

190,687
159,795
215,686
186,223
230,803
247,417
406,895
555,449
5,215
131,931
86,225
136,811
258,195
81,390
184,106
173,188
235,182
310,055
347,337
0
0
272,711
180,590
112,687
194,515
259,815
156,428
80,789
175,184
330,293
515,882
777,437
0
195,998
0
187,237
171,175
0
266,905
0
255,154
128,175
128,741
138,585
279,514
420,164
234,164
185,492
152,103
150,381
255,483

- 30 -

18-Mar-09
17-Mar-09
16-Mar-09
13-Mar-09
12-Mar-09
9-Mar-09
6-Mar-09
5-Mar-09
4-Mar-09
3-Mar-09
2-Mar-09
27-Feb-09
26-Feb-09
25-Feb-09
24-Feb-09
20-Feb-09
19-Feb-09
18-Feb-09
17-Feb-09
16-Feb-09
13-Feb-09
12-Feb-09
11-Feb-09
10-Feb-09
9-Feb-09
6-Feb-09
5-Feb-09
4-Feb-09
3-Feb-09
2-Feb-09
30-Jan-09
29-Jan-09
28-Jan-09
27-Jan-09
23-Jan-09
22-Jan-09
Table 9

1,278.00
1,280.00
1,305.10
1,242.00
1,215.00
1,216.00
1,170.00
1,213.50
1,201.50
1,214.90
1,211.30
1,236.00
1,216.00
1,190.20
1,160.00
1,200.00
1,185.00
1,170.00
1,201.00
1,255.00
1,261.00
1,271.00
1,300.00
1,315.00
1,295.00
1,260.00
1,282.00
1,282.40
1,284.00
1,293.00
1,300.00
1,300.00
1,252.00
1,219.00
1,229.55
1,223.20

1,301.70
1,289.00
1,305.10
1,300.00
1,253.70
1,219.45
1,238.00
1,213.50
1,215.50
1,214.90
1,229.00
1,239.70
1,240.00
1,224.00
1,191.05
1,204.00
1,213.00
1,189.50
1,217.85
1,260.60
1,275.00
1,299.90
1,305.00
1,324.95
1,315.00
1,294.00
1,291.00
1,307.25
1,300.00
1,298.00
1,312.00
1,318.70
1,296.10
1,260.00
1,235.05
1,238.90

1,267.00
1,257.50
1,269.00
1,242.00
1,215.00
1,191.00
1,168.00
1,176.15
1,181.10
1,190.35
1,190.00
1,202.35
1,200.55
1,190.20
1,146.40
1,163.40
1,172.00
1,161.00
1,168.80
1,215.05
1,246.20
1,252.00
1,276.65
1,292.70
1,289.00
1,247.00
1,238.10
1,279.00
1,262.00
1,267.05
1,285.00
1,288.50
1,252.00
1,219.00
1,191.25
1,203.25

1,277.45
1,265.55
1,288.25
1,296.35
1,227.15
1,196.75
1,219.20
1,182.80
1,197.90
1,197.60
1,218.75
1,231.30
1,236.35
1,216.25
1,184.10
1,178.45
1,208.20
1,178.75
1,177.65
1,221.55
1,254.70
1,258.35
1,302.55
1,307.35
1,309.85
1,287.20
1,260.00
1,282.95
1,282.40
1,278.80
1,305.50
1,309.65
1,285.20
1,251.80
1,203.95
1,229.55

203,116
156,103
179,013
314,600
251,868
192,632
276,167
96,822
251,167
152,120
179,824
118,667
193,553
229,412
122,876
176,964
220,078
419,019
245,812
257,359
145,250
218,725
181,019
277,234
279,800
198,522
257,596
118,204
119,795
414,598
253,496
439,900
160,022
283,833
527,790
210,851

Monthly Report
Price Behavior From March,09 – Aug 2009

AIT-School Of Management, Greater Noida

- 31 -

Figure 1

During May 2009

Resistance

Support

Figure 2

1st June – 30th June +174.9 (10.92%)
Resistance
Support

Figure 3

1st July – 31st July, 2009 +287 (16.15%)

AIT-School Of Management, Greater Noida

- 32 -

Resistance

Support

Figure 4

August 4, 2009 – August 28, 2009

+ 123.75 (6%)

Resistance

Support

Figure 5

Difference between opening and closing

sl no.

Date

1
2
3

28-Aug-09
27-Aug-09
26-Aug-09

Open

2,185.00
2,180.00
2,105.00

Close

2,187.65
2,189.75
2,181.35

Original
Chang in
price

2.65
9.75
76.35

AIT-School Of Management, Greater Noida

%chang in
price

0.121281
0.447248
3.627078

- 33 -

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54

25-Aug-09
24-Aug-09
21-Aug-09
20-Aug-09
19-Aug-09
18-Aug-09
17-Aug-09
14-Aug-09
12-Aug-09
11-Aug-09
10-Aug-09
7-Aug-09
6-Aug-09
5-Aug-09
4-Aug-09
31-Jul-09
30-Jul-09
29-Jul-09
28-Jul-09
27-Jul-09
24-Jul-09
23-Jul-09
22-Jul-09
21-Jul-09
20-Jul-09
17-Jul-09
16-Jul-09
15-Jul-09
14-Jul-09
13-Jul-09
10-Jul-09
9-Jul-09
8-Jul-09
7-Jul-09
3-Jul-09
2-Jul-09
1-Jul-09
30-Jun-09
29-Jun-09
26-Jun-09
25-Jun-09
24-Jun-09
23-Jun-09
22-Jun-09
19-Jun-09
18-Jun-09
17-Jun-09
16-Jun-09
15-Jun-09
12-Jun-09
11-Jun-09

2,068.00
2,041.00
1,993.05
1,970.40
1,985.00
1,974.95
2,015.00
2,060.00
2,080.00
2,085.00
2,052.00
2,025.00
2,098.00
2,050.55
2,080.25
2,031.00
1,980.90
1,980.90
2,043.00
2,005.00
1,985.00
1,947.00
1,972.00
2,025.00
1,880.00
1,817.00
1,800.00
1,819.00
1,780.00
1,720.00
1,635.00
1,708.00
1,725.00
1,770.00
1,780.00
1,785.00
1,776.80
1,785.05
1,820.20
1,770.00
1,780.00
1,751.10
1,699.00
1,775.00
1,725.00
1,710.00
1,740.00
1,702.00
1,724.95
1,766.00
1,854.00

2,096.10
2,076.15
2,028.50
1,992.80
1,950.70
1,971.40
1,983.05
2,039.85
2,042.75
2,081.65
2,086.80
2,041.90
2,054.60
2,094.55
2,043.65
2,063.90
2,010.40
1,983.75
1,994.75
2,025.30
2,003.35
1,959.85
1,919.20
1,943.10
1,972.70
1,867.00
1,795.10
1,790.95
1,806.35
1,767.95
1,726.50
1,676.75
1,705.70
1,739.20
1,800.90
1,795.90
1,796.70
1,776.90
1,783.75
1,826.75
1,757.75
1,759.15
1,746.05
1,765.75
1,771.10
1,721.45
1,710.50
1,724.15
1,720.35
1,727.95
1,751.55

28.1
35.15
35.45
22.4
-34.3
-3.55
-31.95
-20.15
-37.25
-3.35
34.8
16.9
-43.4
44
-36.6
32.9
29.5
2.85
-48.25
20.3
18.35
12.85
-52.8
-81.9
92.7
50
-4.9
-28.05
26.35
47.95
91.5
-31.25
-19.3
-30.8
20.9
10.9
19.9
-8.15
-36.45
56.75
-22.25
8.05
47.05
-9.25
46.1
11.45
-29.5
22.15
-4.6
-38.05
-102.45

AIT-School Of Management, Greater Noida

1.358801
1.722195
1.778681
1.136825
-1.72796
-0.17975
-1.58561
-0.97816
-1.79087
-0.16067
1.695906
0.834568
-2.06864
2.145766
-1.7594
1.619892
1.489222
0.143874
-2.36172
1.012469
0.924433
0.65999
-2.67748
-4.04444
4.930851
2.751789
-0.27222
-1.54206
1.480337
2.787791
5.59633
-1.82963
-1.11884
-1.74011
1.174157
0.610644
1.119991
-0.45657
-2.00253
3.206215
-1.25
0.459711
2.769276
-0.52113
2.672464
0.669591
-1.6954
1.30141
-0.26667
-2.15459
-5.52589

- 34 -

55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105

10-Jun-09
9-Jun-09
8-Jun-09
5-Jun-09
4-Jun-09
3-Jun-09
2-Jun-09
1-Jun-09
29-May-09
28-May-09
27-May-09
26-May-09
25-May-09
22-May-09
21-May-09
20-May-09
19-May-09
18-May-09
15-May-09
14-May-09
13-May-09
12-May-09
11-May-09
8-May-09
7-May-09
6-May-09
5-May-09
4-May-09
1-May-09
30-Apr-09
29-Apr-09
28-Apr-09
27-Apr-09
24-Apr-09
23-Apr-09
22-Apr-09
21-Apr-09
20-Apr-09
17-Apr-09
16-Apr-09
15-Apr-09
14-Apr-09
13-Apr-09
10-Apr-09
9-Apr-09
8-Apr-09
7-Apr-09
6-Apr-09
3-Apr-09
2-Apr-09
1-Apr-09

1,790.00
1,720.00
1,700.00
1,644.80
1,650.00
1,699.00
1,685.00
1,605.00
1,600.00
1,599.00
1,628.70
1,515.00
1,520.00
1,499.00
1,540.00
1,547.00
1,810.00
1,752.00
1,580.00
1,539.95
1,588.00
1,500.00
1,529.00
1,542.00
1,575.00
1,568.00
1,602.00
1,515.00
1,507.30
1,507.30
1,440.00
1,418.00
1,430.00
1,440.00
1,380.00
1,375.00
1,380.00
1,394.00
1,365.00
1,380.00
1,351.50
1,409.10
1,426.00
1,426.45
1,433.00
1,385.00
1,414.45
1,425.00
1,420.40
1,379.00
1,326.00

1,803.25
1,795.55
1,733.20
1,690.55
1,627.00
1,645.90
1,682.30
1,676.85
1,602.00
1,575.80
1,584.60
1,543.20
1,507.95
1,519.40
1,502.65
1,534.10
1,563.75
1,750.20
1,594.30
1,566.15
1,573.85
1,597.95
1,514.50
1,521.40
1,554.70
1,568.15
1,582.95
1,629.25
1,507.30
1,507.30
1,507.30
1,431.55
1,432.60
1,448.60
1,449.85
1,379.35
1,363.50
1,392.25
1,393.10
1,341.30
1,370.80
1,409.10
1,409.10
1,426.45
1,426.45
1,421.80
1,414.45
1,414.45
1,420.40
1,420.40
1,375.50

13.25
75.55
33.2
45.75
-23
-53.1
-2.7
71.85
2
-23.2
-44.1
28.2
-12.05
20.4
-37.35
-12.9
-246.25
-1.8
14.3
26.2
-14.15
97.95
-14.5
-20.6
-20.3
0.15
-19.05
114.25
0
0
67.3
13.55
2.6
8.6
69.85
4.35
-16.5
-1.75
28.1
-38.7
19.3
0
-16.9
0
-6.55
36.8
0
-10.55
0
41.4
49.5

AIT-School Of Management, Greater Noida

0.740223
4.392442
1.952941
2.781493
-1.39394
-3.12537
-0.16024
4.476636
0.125
-1.45091
-2.70768
1.861386
-0.79276
1.360907
-2.42532
-0.83387
-13.605
-0.10274
0.905063
1.701354
-0.89106
6.53
-0.94833
-1.33593
-1.28889
0.009566
-1.18914
7.541254
0
0
4.673611
0.955571
0.181818
0.597222
5.061594
0.316364
-1.19565
-0.12554
2.058608
-2.80435
1.428043
0
-1.18513
0
-0.45708
2.65704
0
-0.74035
0
3.002175
3.733032

- 35 -

106
107
108
109
110
111
112
113
114
115
116
117
118
119
120

31-Mar-09
30-Mar-09
27-Mar-09
26-Mar-09
25-Mar-09
24-Mar-09
23-Mar-09
20-Mar-09
19-Mar-09
18-Mar-09
17-Mar-09
16-Mar-09
13-Mar-09
12-Mar-09
9-Mar-09

1,306.00
1,335.00
1,398.00
1,341.00
1,320.00
1,345.00
1,300.00
1,299.00
1,284.00
1,278.00
1,280.00
1,305.10
1,242.00
1,215.00
1,216.00

1,324.10
1,297.85
1,346.75
1,380.65
1,339.60
1,322.95
1,330.70
1,297.35
1,295.85
1,277.45
1,265.55
1,288.25
1,296.35
1,227.15
1,196.75
Total
Average

18.1
-37.15
-51.25
39.65
19.6
-22.05
30.7
-1.65
11.85
-0.55
-14.45
-16.85
54.35
12.15
-19.25
487.15

1.385911
-2.78277
-3.66595
2.956749
1.484848
-1.63941
2.361538
-0.12702
0.922897
-0.04304
-1.12891
-1.29109
4.376006
1
-1.58306

Table 10

Opening V/S Closing

AIT-School Of Management, Greater Noida

- 36 -

AIT-School Of Management, Greater Noida

8/
2

8/
1

20
09

00
9

20
09

4/

20
09

7/

8/
10
/

9

20
0

7/

8/
3/
2

7/
2

20
09

20
09

20
/

7/

00
9

/2

20
09

9/

13
/

7/

20
09

00
9

20
09

2/

7/
6

6/
2

6/
2

6/
15
/

00
9

/2

20
09

20
09

6/
8/
2

6/
1

5/
25
/

00
9

20
09

1/

5/
18
/

5/
1

5/
4/
2

Price
Au
25 g-0
-A 9
u
20 g-0
-A 9
u
17 g-0
-A 9
ug
11
-A 09
ug
6- -09
Au
g
31 -09
-J
ul
28 -09
-J
u
23 l-09
-J
u
20 l-09
-J
u
15 l-09
-J
u
10 l-09
-J
ul
7- 09
Ju
l-0
19
Ju
26 l-0
-J 9
u
23 n-0
-J 9
u
18 n-0
-J 9
u
15 n-0
-J 9
u
10 n-0
-J 9
un
5- -09
Ju
n
2- -09
Ju
28 n-0
-M 9
25 ay-M 09
20 ay-M 09
a
15 y-0
-M 9
12 ay-M 09
a
7- y-0
M 9
ay
4- -09
M
ay
-0
9

28
-

Price

Opening and Closing

2,500.00

2,000.00

1,500.00
Open
Close

1,000.00

500.00

0.00

Date

Volume

1,200,000

1,000,000

800,000

600,000
Volume

400,000

200,000

0

Date

Figure 6

- 37 -

Interpretation
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 19th of
may volume was high but change in price was negative it reveals that there was selling
pressure in the market.

AIT-School Of Management, Greater Noida

- 38 -

Open V/s High
Open Vs High
2,500.00

2,000.00

1,500.00
Price

High
Open
1,000.00

500.00

09
20
4/

20
09

8/
2

20
09
0/

8/
17
/

00
9

8/
1

8/

3/
2

20
09

7/
27
/

20
09

7/
2

3/

0/

20
09

9
00

7/
1

20
09

7/
6/
2

20
09

6/
29
/

2/

20
09

6/
2

5/

00
9

6/
1

00
9

6/
8/
2

6/
1/
2

20
09
5/

20
09

5/
2

8/

20
09

5/
1

5/
11
/

5/
4/
2

00
9

0.00

Date

Volume
1,200,000

Price

1,000,000

800,000

600,000

Volume

400,000

9
4
2
8
/

8
/

1

7

/

2
0
0
/

2
0
0

9

9
/
1
0
8
/

3
/
8
/

2
0
0

0
0
9

9

2

2
0
7
/

2

7

/

/
2
0
/

0

9
2
0
0

9
2
0
0
/

7

1
3
/

2

9
7

7
/

6

/

0
0

9
2
0
0
/
6
/

2

2
2
6
/

9

/

2
0
0

9

9
/
1
5

2

2
0
0

0
0
9
6
/

8
/
6
/

/
1

0
0
9
2

9
/

6
/

5
/

2
5

2
0
0

9
2
0
0
1
8
5
/

/

2
0
0
1

1

/

0

5
/

5
/

4
/

2

0
0
9

9

200,000

Date

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.

AIT-School Of Management, Greater Noida

- 39 -

1

7

AIT-School Of Management, Greater Noida
8
/2

8
/1

4

7

/2
0
0

/2
0
0

9

9

9

/2
0
0

8
/1
0

9

9

0
0
9

/2
0
0

/2
0
0

9

9

9

9

/2
0
0

8
/3
/2

7
/2

7
/2
0

7
/1
3

0
0

/2
0
0

/2
0
0

/2

9

2

7
/6

6
/2

6
/2

9

0
0
9

/2
0
0

6
/1
5

9

0
0
9

/2

6
/8
/2

6
/1

/2
0
0

5
/2
5

9

9

/2
0
0

/2
0
0

0
0
9

0

5
/1
8

5
/1

5
/4
/2

Price

09

20
09
20

4/

8/
2

00
9
20
09

0/
8/
17
/

8/
1

20
09

20
09

3/
2

8/

9

20
09

0/

7/
27
/

7/
2

3/

00

20
09

20
09

2/

7/
6/
2
7/
1

00
9

20
09

5/

6/
29
/

6/
2

6/
1

6/
8/
2

00
9

20
09

5/

20
09

8/

00
9

20
09

6/
1/
2

5/
2

5/
1

5/
11
/

5/
4/
2

Price

Opening V/S Low
Opening Vs low

2,500.00

2,000.00

1,500.00
Open
low

1,000.00

500.00

0.00

Date

1,200,000
Volume

1,000,000

800,000

600,000

400,000
Volume

200,000

Date

Figure 8

Interpretation

- 40 -

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
Sensex

Infosys

AIT-School Of Management, Greater Noida

- 41 -

Figure 9

Comparing 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

- 42 -

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

- 43 -

Tools Used for Technical Analysis
Bollinger Bands

Overview
Bollinger 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

- 44 -

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.

AIT-School Of Management, Greater Noida

- 45 -


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.

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
Overview
A 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.

AIT-School Of Management, Greater Noida

- 46 -

Figure 14

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

AIT-School Of Management, Greater Noida

- 47 -

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.

MACD
Overview
The 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.)

AIT-School Of Management, Greater Noida

- 48 -

MACD
Signal line

Figure 16

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.

AIT-School Of Management, Greater Noida

- 49 -

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.

Momentum
AIT-School Of Management, Greater Noida

- 50 -

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

- 51 -

Moving average crossover (parameter 9 and 30)

Figure 18

(Parameter 20, 50)

Figure 19

AIT-School Of Management, Greater Noida

- 52 -

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

- 53 -

Infosys From 2000-2008

AIT-School Of Management, Greater Noida

- 54 -

News and Analysis
Date
28Aug

27Aug
26Aug

Particular
Narayana Murthy's daughter to tie know on Aug 29
A quite weding for IT Czar's Daughter
Akshata's Mehendi Over, reception on Saturday
Govt may fail to keep its word to wipro, Infosys
Infy rise on BP relation
BP Award Large Deal to infosys Technologies Ltd
Infosys, Tata sign Big deal with BP, Advantage to tata ?
IBM, Indian outsourcers win services deal from BP
Infosys Gets ouder from BP Group
Sensex Closes UP 81 Pts, Infosys Leads

25Aug
24Aug
23Aug
20
Augu
t
20
Agus
t
19Aug
19Aug

Stock Open Higher, Infosys, SBI lead

CIOL
Deccan Herald
Times Of India
Livemint
Market Intelligence
Centre
Reuters key
Development
Information week
Reuers
Wall Street Journal
Financial Express

Indian Shares Fall 0.8 pct, ICICI, Infosys drop (HCL Jumped 6 %0

Financial Express
Reuters key
Development

Infosys Outsourcing Unit Pursues Orders, Eyes Acquisitions

Wall Street Journal

Infosys BPO Partners US firm to proved Mortgage solution
Less cost, Less hassle, Less paper:Infosys launches Customer
communication Mgm portal for E

Business Standard

Stock to watch: Sterlite Industries, HDFC,NMDC, REC,Sun Pharma, Jet
Airwas, Infosys
Intra-Day Sell Infosys, ICICI Bank At…
Indian Shares fall 1.5 Pct, led by reliance
Narayana Murthy to join NPCI
Murthy to join NPCI Board as non-exe chairman
after Nilekani, NRN to take up a government assignment

18Aug

Source

Infosys looking for new billing modes to protect margins
Infosys Pushing result-based sales model

AIT-School Of Management, Greater Noida

PR-canada.net
Economics Times
Sify
Reuters key
Development
My news in
Mydigitalfc.com
MSN India
(Domain-B
Economics Times
Daily news &
analysis

- 55 -

Tough time to continue for another quarter or two:Infosys
Infosys at the NASSCOM global engineering leadershi Summit 2009
Independent Research Firm Names Infosys Technologies as a leader in
SAP Implementation
17Aug

16Aug

Economics Times
Press Trust of India
Sify
Stock Watch
Andhra Café
iTWire
ITBrief

Indian IT Outsourcers Face Cloud computing challenge

Financial times
Financial express ,
Reuters
New Zealand
Herald
Fianancial
Express,Economics
Times,Siffy
Press Trust of India

Indian tech company infosys to expand operation in NZ
Indian ADRs loss $ 1.44 bn in one week
Six in top 10 Club add rs 28000 cr in mcap
Infosys posts growth but on track for drop in annual revene

Indian Shares fall 0.3 Pct, Infosys drop

Smart brief
Press Trust of India,
Economic
Times,Deccan
Herald
Reuters, financial
express

Infosys Prevails as Storm Brews in India's Tech Sector
Infosys Looks to China Outsourcing Market for growth
Indian outsourcer cultivating chinese clients
Infosys Demand evironment Better than it was
Infosys Executive: demand environment better than it was
Infosys seeing revival signs

Wall Street Journal
CIO
IT World Canada
Wall Street Journal
EasyBourse.com
Times Of india

Infosys most admired Indian Company : WSJ survey
13Aug

12Aug
11Aug

10Aug

PR-USA.net

Infosys,Cognizant among world's 100 Fastest growing companies
Infosys,among world's 100 fastest growing Cos
Infosys,among world's 100 fastest growing Cos
Infosys is the most admired Indian Compan, WSJ survey
Infosys most admired
Infosys launches Communication Hub
Communication Portal Cuts Costs

Infosys has bid for over 10 govt deals

14Aug

Hindu Business
Line
Newswire Today

Indian shares slip 0.4 pct, but buying reviving
Independent Research Firm Names Infosys Technologies as a leader in
SAP Implementation
Infosys Named leader in SAP implementation
Forrester Lauds Infosys as SAP leader

Reutes

Infosys eyes Latin american acquisitions,wins Bancoombia as client
Sensex slides sharply, Nifty below 4500
RPT-FEATURE-Talent building key challenge for India firms
Talent building remains key challenge for Indian firms
Talent building remains key challenge for Indian firms

PR Newswire
EFY Times
CIOL
ISI-Emerging
Markets
India Infoline.com
Reuters
Livemint
IBN Live.com

Narayana Murthy mulls investment in green VC fund
Infy to use internships to attract more global talent

Business Standard
Rediff

AIT-School Of Management, Greater Noida

- 56 -

Narayana Murthy to invest in green VC fund

9Aug

8Aug
7Aug
6Aug

5Aug

4Aug

3Aug

Stand out from the IT jobs crowd - top tips from Infosys
Infosys Technologies (INFY) Bullish Technical Alert – Trend Up 65.1%
Sell Infosys – Nirmal Bang

Siliconindia.com
Computer
Weekly.com
comtex Smartrend
Top News

IT majors preparing strategy in line with revival of demand
Infy, Wipro set up units to tap Indian, foreign govt mkt
IT majors prepare strategy in line with revival of demand

Business Standard
Economics Times
Rediff

Infosys Inks Five-Year Deal with T-Mobile

itVARnews.net
Trading Markets
(press release)
Hindu Business
Line
Market Intelligence
Centre
Thaindian.com
CIOL
Indopia
Telecompaper

Infosys BPO wins T-Mobile UK contract
Infosys pursuing 12-15 deals in $1-b range
Infosys Technologies (INFY) PriceWatch Alert For 8/6/2009 - Covered Call
Risk Ranking Declines to 2 Keys
Infosys signs strategic agreement with Bancolombia
Infy deploys Finacle soln for Bancolombia bank
Colombian bank selects Infosys 'Finacle' soln
Infosys signs five-year deal with T-Mobile UK
T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance
operations
'Infosys is pursuing $1-bn deals in this quarter'
July technology earnings highlights; INFY, INTC, TXN, AAPL, MSFT
Infosys Technologies (INFY) PriceWatch Alert For 8/5/2009 - Covered Call
Risk Ranking Improves to 3 Keys
Indian Stocks Rise, Erasing Earlier Losses; Infosys Gains
India's Infosys pursuing deals worth $1 billion
Infosys pursuing deals worth $1 bn
Infy, Wipro having second thoughts on Bengal plans
Markets open higher; Reliance Infra, Infosys surge
Markets open higher; Reliance Infra, Infosys surge
Sensex back to its winning ways
Stocks open higher; Reliance Infra, Infosys surge
Indian shares rise in early deals
Infosys Technologies (INFY) PriceWatch Alert With 6.18%
Downside Protection
Infosys Technologies (INFY) PriceWatch Alert For 8/4/2009 - Covered Call
Risk Ranking Declines to 2 Keys
Infosys Technologies Ltd.'s Infosys BPO Inks Five Year Deal With T-Mobile
UK-Business Standard
Indian shares fall 0.6 pct; Bharti, ONGC drop
Infosys BPO unit wins 5-year deal from T-Mobile UK
Infosys BPO inks five-year deal with T-Mobile UK
Infy BPO bags 5-year T-Mobile UK deal
Dettol tops 'green brands' list
Infosys, Wipro among top 'green brands' in India
Infosys, Wipro in top Green brands
Intra-Day: Sell Infosys at… 2115
PREVIEW-Cognizant seen posting another solid quarter

AIT-School Of Management, Greater Noida

Wireless Fedration
Business Standard
Learning Markets
Market Intelligence
Centre
Bloomberg
Reuters
Financial Express
Economics Times
Mydigitalfc.com
Sify
Press Trust of India
Economics Times
Reuters
Market Intelligence
Centre
Market Intelligence
Centre
Reuters key
Development
Reuters
Reuters India
Business Standard
Times Of India
Rediff
CIOl
Times Of India
Sify
Reuters

- 57 -

Cognizant Tech's June quarter results will cheer IT investors
Infosys gets CISF security cover
In Economic Cloud, Infosys Sees a 'Green Lining'
F&O Outlook: Expect profit booking
2Aug
31Jul

30Jul
29Jul

28Jul

Infosys Technologies (INFY) PriceWatch Alert Support Down To $41.41
Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 62.1%
Infosys pays Rs 23-cr premium for Rs 10,000-cr cover
Govt support must to help IT achieve growth: Infosys

Livemint
Myiris.com
Network Computing
Business Standard
PR Web (press
release)
Market Intelligence
Centre
comtex Smartrend
Sify
Economics Times

Infosys Wins 10-Year E-Government Contract From Commerce Ministry
Indian ADRs Gain $7 Billion; Infosys Leads the Pack

Indian Journal
Indian Journal

Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

Asian companies get anti-terrorism advice and aid
CISF to protect techies, not intrude on their private space
Infosys gets CISF cover

InternetNews.com
Economics Times
Business Standard

Nasscom Summit: HR of IT cos need to adapt to changes
Infosys believes growth picture will clear in a year
Infosys Technologies (INFY) PriceWatch Alert For 7/31/2009 - Covered
Call Risk Ranking Improves to 3 Keys
SABMiller Selects Infosys Technologies
Infosys to Improve SABMiller's Marketing Campaigns
SABMiller Chooses Infosys Technologies Limited To Conduct InStore Projects
Indian Outsourcing: Moving Past Economic Turmoil With A
Positive Quarter
Infosys eyeing Tier-II cities for expansion

Hindu
Business Standard
Market Intelligence
Centre
EFY Times
CXOToday.com
Reuters key
Development
Trading Markets
(press release)
Indopia
Hindu Business
Line
MSN India
(Domain-B
Financial Express
Reuters India

Infosys eyeing smaller cities for expansion
Infosys eyeing Tier II cities like Mysore, Kochi, Madurai
Stocks turn negative; ICICI, Infosys drag
BSE Sensex falls 0.7 pct; ICICI, Infosys drop
Morning: Sensex falls 0.7%; ICICI, Infosys drop
Infosys to bid for UID projects; nobody to succeed Nilekani
Transparency to be maintained on inking UIAI deal: Infosys
India tech stocks still a good play or overpriced?
27Jul

Top VARs Vie For $1 Billion IT Contract With BP
Infosys pips TCS, Wipro in filing patents
TCS, Infosys Patni await clarity on ABN Amro outsourcing
All change at ABN?
RBS yet to take a call on ABN's USD 500mn outsourcing contracts
Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish
Recession? TCS, Infosys, Wipro, HCL bag large outsourcing deals
Indian outsourcers using slump to get bigger
IT firms speed up patent filing

AIT-School Of Management, Greater Noida

Trading Markets
(press release)
Indopia
Reuters
Gerson Lehrman
group
Sify
Economics Times
Computing
ISI-Emerging
Markets
Market Intelligence
Centre
Economics Times
ZDNet Asia
Hindu Business

- 58 -

26Jul
25Jul
24Jul
23Jul

Indian ADRs gain $7 billion; Infosys leads the pack
52-Week High Companies: China Life Insurance Company, Infosys
Technologies, Archer Daniels Midland Company, Ford Motor Company,
The TJX Companies, and Starbucks Corp.
Tata Consultancy Services Ltd And Infosys Technologies Ltd. Vie For $1
Billion BP Deal-Reuters
India's Outsourcers: Using the Slump to Get Bigger
Indian outsourcers vie for $1 bln BP deal-report
Indian outsourcers vie for US$1b BP deal
IT has not reduced strategic investment: Infosys
IT industry hasn't reduced strategic investment: Infosys
No cost-cutting in critical areas: Infy
Indian shares rise 0.2 pct; Maruti continues rally

22Jul

21Jul

20Jul

19Jul

17Jul
16Jul

IT companies reconciling to pay more tax as STP exemption ends
The tough get going
Wipro's Q1 performance pales vs TCS, Infosys
Infosys bags railways' pilot project worth Rs.4 Crore
Infosys Technologies Ltd. Wins eBiz Project from Ministry of Commerce
and Industry
Infosys move is obvious in providing cautious view due to
market uncertainties
Liquid funds may now fetch less for companies
India's Infosys wins 10-year contract from govt
Infosys Gets 10-Year Outsourcing Order From India Government
Infosys bags ten-year govt e-biz project
Infosys Technologies Ltd. Wins Ten Year Contract From GovernmentReuters
Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives
Infosys Opens First Philippine BPO Branch With Collaboration Platform
From Cisco
Infosys opens BPO branch in Philippines with Cisco
Infosys to get CISF cover soon
Infosys bags rlys' coach management project
Infosys bags Railways' coach management project
Infosys bags Railways' coach management project

Line
Hindu, Economics
times, hindustan
Times
GuruFocus.com
Reuters key
Development
Business Week
Reuters
Business times
(Subscription)
Economics Times
Business Standard
Times Of India
Reuters
Hindu Business
Line
Business Standard
Economics Times
Siliconindia.com
Reuters key
Development
Gerson Lehrman
group
Economics Times
Reuters
Wall Street Journal
Financial Express
Reuters key
Development
Webnewswire.com
SYS-CON Media
Telecompaper

India's Tata Consultancy Q1 net up; sees uncertainty

Deccan Herald
Business Standard
MSN India
Economics Times
Hindu Business
Line
Economics Times
Siliconindia.com
Itvoir
Trading Markets
(press release)
Alibaba News
Channel

Heard on the Street

Economics Times

IT firms spend more on R&D to offer new services
Infosys Finacle bags two major deals
Infosys' Finacle signs two major deals
Infosys wins two major deals for direct banking solutions
Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 44.4%

AIT-School Of Management, Greater Noida

- 59 -

Infy puts Rs 1,500cr in liquid MFs
Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives
15Jul
14Jul

Infosys BPO receives award for diversity hiring initiatives
Amartya Sen to chair Infosys Foundation jury for social sciences

Consultant News
Thaindian.com

Nilekani: ID'ing the masses may solve Indian identity crisis

MSN India
Trading Markets
(press release)
Siliconindia.com
Economics Times
Livemint

Oracle and Infosys jointly develop distribution offering
KRChoksey recommends to buy Infy, target of Rs.1824
Infosys Technologies nets $10-mn Intel pilot project
Earnings Preview: Q1FY10
13Jul

Infosys, Wipro get CISF cover
Infosys, Wipro to get CISF security cover
Infosys Q1 profit beats estimates
Sensex recovers partially led by Infosys, ITC
Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives
Infosys BPO bags award for diversity hiring initiatives
Stocks to Watch: TCS, Wipro, Infosys, NTC, RIL, Gammon India

12Jul

Domestic market key to revenue growth
Result Review: Infosys Technologies
After Finacle, Infy back with new, smaller products
Infosys' revenues from BT to shrink further
Q1 Shock or surprise?
Israeli cos in talks with TCS, Wipro, Infosys for IT deals
Corporate Round-up

11Jul
10Jul

Infosys Q1 net profit up 17% @ Rs1527 cr
Infosys sounds alert on lower FY10 income
Infosys Technologies Ltd.- Result Update by Nirmal Bang
Infosys climbs nearly 4 pc on Nasdaq
Infosys sees Q1 North America profits up 16%
Top Day Trader Alert Stocks (CIT, DELL, WDC, DDSS, INFY, ASML)
Infosys BPO eyes acquisition in US, Europe
Outsider may be the next chairman of Infosys: Murthy

9-Jul

8-Jul

Times of India
PR-canada.net

Outsider may be the next chairman of Infosys: Murthy
Infosys looks to outbid rivals for UBS unit buy
Inflation Declines in India; Infosys Earnings
Indian shares post biggest weekly fall in 8 mths
Infosys 1Q Net +17%; Cuts This FY Rupee Outlook
Infosys Profit Beats Estimates; Wins Large Orders
IT biggies set to report decline in Q1 numbers
Infosys may revise dollar revenue guidance upward: Sharekhan

AIT-School Of Management, Greater Noida

Business Standard
Myiris.com
Budapest Business
Journal
India Infoline.com
Prdomain Business
register (press
Release)
Economics Times
Economics Times
Economics Times
Livemint
Mydigitalfc.com
Hindu Business
Line
Mydigitalfc.com
Economics Times
Economics Times
Utvi
Economics Times
Top News
Economics Times
Business News
Americas
24/7 Wall St
CIOL
Zee News
Reuter key
development
Economics Times
123 Jump.com
Reuters
Wall Street Journal
Bloomberg
Mydigitalfc.com
Economics Times

- 60 -

7-Jul

6-Jul

1-Jul

30Jun
29Jun
28Jun
26Jul
25Jun
23Jun
20Jun

19Jun
18Jun

15Jun

14Jun

Movers roundup: Infosys, IntercontinentalExchange
Bearish option traders prep for Infosys (INFY) earnings
Options Update: Infosys (INFY) & Euro Currency Trust (FXE)
Infosys (INFY) July volatility at 64 into EPS and outlook
Choppy Indian shares end flat; Infosys, ICICI fall
Infosys faces bearish trade
Infosys Technologies Sets 1Q Earnings Release Date
To survive, IT sector will have to innovate
Infosys Technologies to declare Q1 results on July 10, 2009
Stocks to watch: GMR Infra, SBI, Reliance Power, TCS, Wipro, Infosys,
United Spirits, DLF, Ispat, HCL Tech

Forbes
StockHouse
The Option Insider
StreetInsider.com
Reuters
Option Monster
Research
Trading Markets
(press release)
Livemint
Equity Bulls

Infosys reverberates at TCS annual meeting

Economics Times
Daily news &
analysis

Infosys Technologies to Announce First Quarter Results on July 10, 2009
Infosys Tech to announce Q1 results on July 10

Market Watch
India Infoline.com

Indian ADRs add $4 bn to their kitty; Infosys gains $1 bn

Economics Times

Tax holidays must be extended: Infosys
IT majors vie for slice of UBS' offshoring contract
ONGC to rope in Infosys for knowledge mgmt

Utvi
Economics Times
Myiris.com

Infosys Says It Is Keen on Overseas Acquisitions
TCS, Infosys see signs of recovery on order flow
Infy shareholders assured on auditing

Business Week
Economics Times
Deccan Herald

Buy Infosys For Target Rs 1840: Ashwani Gujral
UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT
Companies Including Infosys Technologies Limited-DJ
Infosys' Cuts Carbon Footprint By 5%
Direct banking solution from Infosys
Infosys seeks nod for fresh issue of ADR
Stocks to watch: HDFC, HDFC Bank, Tata Communications, Hindalco,
Wockhardt, Infosys, Bharti
Infosys Files For Registration Of New Securities With SEC
Infosys Technologies Ltd.'s Infosys BPO Ltd. Gets Three Year $10 Million
Order From Microsoft-DJ
UBS in talks with Infosys, Wipro for sale of BPO, KPO units

Top News
Reuters key
Development
India Journal
Hindu
India Infoline.com

Infosys eyes buys in Mexico, Brazil to improve operations
Alberto Culver Company Bolsters Trade Promotion Efficacy With
Infosys Technologies
Infosys Technologies Introduces iTransform™ Product Suite, One of
Industry's ...
Finacle launches Direct Banking Solution to enable Rapid Global
Expansion and Customer Acquisition
Infosys BPO on the hunt for low-cost rural locations

AIT-School Of Management, Greater Noida

Economics Times
Wall Street Journal
Reuters key
Development
Economics Times
Hindu Business
Line
Business wire
SYS-CON Media
Financial Express
Mydigitalfc.com

- 61 -

Trading Markets
(press release)

Infosys hopes huge business from Latin America
Avi Infosys, Dubai, receives ISO 9001:2008 Quality Management
System Certification
US recovery speeding up'
11Jun

AME Info
Hindustan times

Telstra Selects Infosys as a Key Strategic Partner

IT News Online
Computer Business
review

Infosys explores new engagement models
10Jun
9Jun
8Jun

7Jun

6Jun
5Jun
3Jun
2Jun

Infosys hopes huge business from Latin America
Sell Infosys with stoploss of Rs 1830: Reliance Money

Economics Times
Economics Times

Sensex in India Surges 3%, Infosys, Satyam Rise

123Jumps.com

Telstra Awards Contracts To IBM, EDS, Infosys
Infosys BPO CEO: Expect FY Rev Growth Of Around 10%
Infy sets up domestic BPO operation

Wall Street Journal
Wall Street Journal
Business Standard
Reuters key
Development
Business week
Economics Times
Indopia

Infosys Technologies Ltd. Plans To Set Up Unit In Brazil-DJ
Wal-Mart to Start Outsourcing More to India
Infosys plans to set up unit in Brazil
Infosys' energy utilisation 5 per cent lower in FY'09
India setting direction in use of IT in banking: Infosys

Indopia

Sensex Ends Near Ten-Month High

Wall Street Journal

IT exports from north grows 30% in FY'09, Infosys top exporter

Economics Times

Infosys invests Rs 63 crore in overseas subsidiaries
Infosys invests Rs 63-cr in loss-making subsidiaries

Mydigitalfc.com
Zee News

News Date and Impact
Ne
ws
Da
te
28Au
g09
27Au
g09
26Au
g09

Open

2,185.00

2,180.00

2,105.00

high

2,199.00

2,202.70

2,188.00

low

2,142.50

2,121.20

2,098.00

Close

2,187.65

2,189.75

2,181.35

Volume

135,164

196,202

254,324

openclose

h
igh
op
en

open-low

-2.65

1
4.0
0

42.50

-9.75

2
2.7
0

58.80

-76.35

8
3.0
0

7.00

AIT-School Of Management, Greater Noida

- 62 -

25Au
g09
24Au
g09
23Au
g09
20Au
g09
19Au
g09
18Au
g09
17Au
g09
16Au
g09
14Au
g09
13Au
g09
12Au
g09
11Au
g09
10Au
g09
9
Au

2,068.00

2,041.00

2,104.00

2,082.40

2,041.00

2,041.00

2,096.10

2,076.15

151,542

115,593

-28.10

3
6.0
0

27.00

-35.15

4
1.4
0

0.00

0.00

0
.00

0.00

15.35

1,970.40

1,995.00

1,955.05

1,992.80

219,033

-22.40

2
4.6
0

1,985.00

1,988.00

1,936.00

1,950.70

150,657

34.30

3
.00

49.00

17.95

1,974.95

1,999.00

1,957.00

1,971.40

145,082

3.55

2
4.0
5

2,015.00

2,018.70

1,971.25

1,983.05

105,485

31.95

3
.70

43.75

0.00

0
.00

0.00

20.15

4
.00

33.95

0.00

0
.00

0.00

37.25

0
.00

80.00

3.35

2
4.0
0

30.00

-34.80

6
1.0
0

1.95

0.00

0
.00

0.00

2,060.00

2,080.00

2,085.00

2,052.00

2,064.00

2,080.00

2,109.00

2,113.00

2,026.05

2,000.00

2,055.00

2,050.05

2,039.85

2,042.75

2,081.65

2,086.80

63,697

70,493

123,870

225,757

AIT-School Of Management, Greater Noida

- 63 -

g09
8
Au
g09
7
Au
g09
6
Au
g09
5
Au
g09
4
Au
g09
3
Au
g09
2
Au
g09
31Jul
-09
30Jul
-09
29Jul
-09
28Jul
-09
27Jul
-09
26Jul
-09

0.00

0
.00

0.00

10.00

2,025.00

2,056.00

2,015.00

2,041.90

79,732

-16.90

3
1.0
0

2,098.00

2,100.00

2,040.00

2,054.60

105,279

43.40

2
.00

58.00

-44.00

5
4.4
5

0.00

36.60

1
9.7
5

58.25

0.00

0
.00

0.00

2,050.55

2,080.25

2,105.00

2,100.00

2,050.55

2,022.00

2,094.55

2,043.65

163,504

108,625

0.00

0
.00
4
5.9
5
3
7.8
0
1
6.8
0

2,031.00

2,076.95

2,021.10

2,063.90

301,664

-32.90

1,980.90

2,018.70

1,980.90

2,010.40

274,570

-29.50

1,980.90

1,997.70

1,950.00

1,983.75

106,921

-2.85

2,043.00

2,043.00

1,968.25

1,994.75

128,343

48.25

2,005.00

2,043.90

1,996.30

2,025.30

143,672

-20.30

0
.00
3
8.9
0

0.00

0
.00

AIT-School Of Management, Greater Noida

0.00
9.90
0.00
30.90
74.75
8.70
0.00

- 64 -

25Jul
-09
24Jul
-09
23Jul
-09
22Jul
-09
21Jul
-09
20Jul
-09
19Jul
-09
17Jul
-09
16Jul
-09
15Jul
-09
14Jul
-09
13Jul
-09
12Jul
-09
11Jul
-09
10Jul
-09
9
Jul
-09
8
Jul
-09
7
-

1,985.00

2,011.00

1,982.35

2,003.35

213,339

-18.35

1,947.00

1,976.00

1,935.00

1,959.85

968,738

-12.85

0
.00
2
6.0
0
2
9.0
0

1,972.00

1,972.00

1,895.00

1,919.20

201,311

52.80

0
.00

2,025.00

2,025.00

1,925.05

1,943.10

121,109

81.90

1,880.00

1,994.00

1,870.10

1,972.70

568,944

-92.70

0.00

0.00

2.65

0
.00
1
14.
00

1,873.00

1,801.00

1,867.00

241,070

-50.00

1,800.00

1,820.00

1,770.80

1,795.10

215,929

4.90

1,819.00

1,819.00

1,759.20

1,790.95

196,349

28.05

1,780.00

1,814.40

1,751.10

1,806.35

210,388

-26.35

1,720.00

1,774.45

1,710.00

1,767.95

205,279

-47.95

0
.00
3
4.4
0
5
4.4
5

0.00

0
.00

1,635.00

1,767.00

1,635.00

1,726.50

596,974

-91.50

0
.00
1
32.
00

1,708.00

1,712.00

1,670.00

1,676.75

201,347

31.25

4
.00

1,725.00
1,770.00

1,733.00
1,775.00

1,688.00
1,726.00

1,705.70
1,739.20

225,767
144,282

19.30
30.80

77.00

9.90
0.00
16.00
29.20
59.80
28.90
10.00
0.00
0.00
0.00

38.00

8
.00
5
.00

AIT-School Of Management, Greater Noida

12.00

99.95

0
.00
5
6.0
0
2
0.0
0

1,817.00

0.00

0.00

37.00
44.00

- 65 -

Jul
-09
6
Jul
-09
1
Jul
-09
30Ju
n09
29Ju
n09
28Ju
n09
26Ju
n09
25Ju
n09
23Ju
n09
20Ju
n09
19Ju
n09
18Ju
n09
15Ju
n09
14Ju
n09
11-

1,776.80

1,812.90

1,771.05

1,796.70

99,230

0.00

0
.00

0.00

-19.90

3
6.1
0

5.75

25.05

1,785.05

1,799.00

1,760.00

1,776.90

115,372

8.15

1
3.9
5

1,820.20

1,830.00

1,772.55

1,783.75

136,266

36.45

9
.80

47.65

0.00

0
.00

0.00

-56.75

6
8.7
0

17.65

22.25

1
7.7
0

33.95

-47.05

7
1.0
0

0.00

0.00

0
.00

0.00

-46.10

6
0.0
0

5.00

-11.45

5
0.0
0

16.00

143,796

4.60

5
0.0
5

34.95

146,476

0.00
102.45

0
.00
0

0.00
126.85

1,770.00

1,780.00

1,699.00

1,725.00

1,710.00

1,724.95

1,854.00

1,838.70

1,797.70

1,770.00

1,785.00

1,760.00

1,775.00

1,854.00

1,752.35

1,746.05

1,699.00

1,720.00

1,694.00

1,690.00

1,727.15

1,826.75

1,757.75

1,746.05

1,771.10

1,721.45

1,720.35

1,751.55

216,841

97,423

178,176

147,777

166,085

AIT-School Of Management, Greater Noida

- 66 -

Ju
n09
10Ju
n09
9
Ju
n09
8
Ju
n09
7
Ju
n09
6
Ju
n09
5
Ju
n09
3
Ju
n09
Table 11

.00

1,790.00

1,720.00

1,700.00

1,836.00

1,800.00

1,745.00

1,762.05

1,720.00

1,681.00

1,803.25

1,795.55

1,733.20

289,306

226,449

233,892

-13.25

4
6.0
0

27.95

-75.55

8
0.0
0

0.00

-33.20

4
5.0
0

19.00

0.00

0
.00

0.00

0.00

0
.00

0.00

11.50

77.00

1,644.80

1,705.00

1,633.30

1,690.55

217,181

-45.75

6
0.2
0

1,699.00

1,705.00

1,622.00

1,645.90

185,019

53.10

6
.00

Block Deals

AIT-School Of Management, Greater Noida

- 67 -

Date
25-Jun09
25-Jun09
10-Jan08
10-Jan08

Type

Company
QuantityPrice
BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX
Buy
334554 1775
MAURITIUS CO
CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL
Sell
334554 1775
CODE
Buy ABN AMRO BANK N V LONDON BRANCH

356000 1660

Sell JF ASSET MANAGEMENT FII

356000 1660

Table 12

Option Price
Expiry Date
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
29 Oct '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
24 Sep '09
29 Oct '09
29 Oct '09

Type
Call
Put
Call
Put
Call
Call
Put
Put
Call
Call
Put
Put
Put
Call
Put
Put
Put
Put
Put
Call

Strike Price
2190.00
2100.00
2250.00
2190.00
2280.00
2160.00
2160.00
2010.00
2280.00
2220.00
1890.00
2040.00
2070.00
2130.00
1980.00
2130.00
1890.00
1920.00
2160.00
2160.00

Quantity
32000
22800
15000
12400
11000
9000
7800
6000
5600
5200
4600
4200
3600
1600
1600
1400
400
400
400
200

LTP
76.00
42.00
50.50
74.80
38.75
96.00
63.90
22.85
88.55
65.00
6.00
21.00
27.10
95.00
14.50
48.00
11.00
13.55
131.20
128.00

Last Traded
28 Aug '09 15:57
28 Aug '09 15:00
28 Aug '09 15:34
28 Aug '09 15:35
28 Aug '09 15:34
28 Aug '09 15:53
28 Aug '09 15:53
28 Aug '09 15:59
28 Aug '09 15:34
28 Aug '09 15:34
28 Aug '09 15:54
28 Aug '09 15:59
28 Aug '09 15:59
28 Aug '09 15:34
28 Aug '09 15:32
28 Aug '09 15:34
26 Aug '09 14:00
26 Aug '09 15:25
28 Aug '09 15:56
28 Aug '09 14:39

Table 13

AIT-School Of Management, Greater Noida

- 68 -

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 it
2. 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.

AIT-School Of Management, Greater Noida

- 69 -

BIBLIOGRAPHY
1. “Security Analysis and Portfolio Management” By “Pandian
Punithavathy”.
2. “Investment Analysis and Portfolio Management” By “Ranganatham.
M and “Madhumathi. R”.
3.

AIT-School Of Management, Greater Noida

- 70 -

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