Technical Analysis of Infosys Technology

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
AIT-School Of Management, Greater Noida -1-

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

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.

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.

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
e. Moving average crossover..................................................................48
f. Infosys From 2000 to March 2009.....................................................50
7. News Analysis.........................................................................................51
8. Block Deals.............................................................................................64
9. Option Price............................................................................................64
10. Finding And Recommendation.............................................................65
11. Bibliography.........................................................................................66
List of Tables
Sl. No. Particular Page No.
Table 1 Management Infosys 17
Table 2 Listing Detail 18
Table 3 Capital Structure 19
Table 4 Share Holding Pattern 20
Table 5 AGM/EGM Detail 21
Table 5 Dividend Details 23
Table 6 Bonus History 24
Table 7 Split History 24
Table 8 Competition 25
Table 9 Historical Price 26
Table 10 News Analysis 51
Table 11 Block Deals 64
Table 11 Option Price 64

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.
AIT-School Of Management, Greater Noida - 10 -

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.
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

Company information
Infosys 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

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.

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 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.

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

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

Kundapur Vaman Kamath Additional Director
Listing Details - Infosys Technologies

Key Dates
Year Ending Month Mar

AGM Date (Month) Jun
Book Closure Date (Month) Jun
Listing Information
Face Value Of Equity Shares 5
Market Lot Of Equity Shares 1
BSE Code 500209
NSE Code INFOSYSTCH
BSE Group A
Whether The Company Forms A Part Of The Following Indices -

Sensex Yes
Nifty Yes
BSE-100 Yes
BSE-200 Yes
S&P CNX 500 Yes
CNX Midcap No
CNX FMCG No
Listing On
Listed On The Stock Exchange, Mumbai,
National Stock Exchange of India Ltd.,
NASDAQ Stock Exchange
Source : Religare Technova

Table 1

Infosys Technologies
Capital Structure
Period Instrument --- CAPITAL (Rs. cr) --- -PAIDUP-
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

Share Holding Pattern
categories (Promoter & Non Promters)

Shareholding as on : 30/06/2009 31/03/2009 31/12/2008
Face Value 5.00 5.00 5.00
No. Of % No. Of % No. Of %
Shares Holdin Shares Holdin Shares Holdin
g g g
PROMOTER'S HOLDING
Indian Promoters 94484978 16.49 94484978 16.49 94484978 16.50
Sub Total 94484978 16.49 94484978 16.49 94484978 16.50
NON PROMOTER'S HOLDING
Institutional Investors
Mutual Funds and 23826059 4.16 20519719 3.58 22620828 3.95
UTI
Banks Fin. Inst. and 23671621 4.13 23801421 4.16 26785309 4.68
Insurance
FII's 20433781 35.66 19966412 34.86 18893652 32.99
3 4 3
Sub Total 25183549 43.95 24398526 42.59 23834266 41.62
3 4 0
Other Investors
Private Corporate 22579774 3.94 20085568 3.51 21334356 3.73
Bodies
NRI's/OCB's/Foreig 4956706 0.86 5105579 0.89 5204554 0.91
n Others
Others 10757902 18.77 11243318 19.63 11227405 19.61
1 7 4
Sub Total 13511550 23.58 13762433 24.03 13881296 24.24
1 4 4
General Public 91623205 15.99 96735467 16.89 10100090 17.64
1
Grand Total 57305917 100.00 57283004 100.00 57264150 100.00
7 3 3
Table 3

AGM/EGM DETAIL
Announcement Purpose Date Book Closure Remarks
Date From To
15-04-2009 AGM 20-06- 06-06- 20-06- 270% Dividend
2009 2009 2009
15-04-2008 AGM 14-06- 31-05- 14-06- 545% Dividend
2008 2008 2008 (Final Dividend
145% + Special
Dividend 400%)
13-04-2007 AGM 22-06- 08-06- 22-06- 130% Final
2007 2007 2007 Dividend
11-10-2006 EGM 07-11- - - To seek approval for
2006 the Secondary
American
Depositary Share
Offering and expects
the Offering to be
completed
thereafter.
14-04-2006 AGM 10-06- 27-05- 10-06- 770% Dividend (Rs.
2006 2006 2006 30/- for Silver Jublee
Special Dividend
and Rs 8.50/- for
Final Dividend)
14-04-2005 AGM 11-06- 03-06- 11-06- Final dividend of Rs.
2005 2005 2005 6.50 per share
(130% on an equity
share par value Rs.
5/-).
22-11-2004 EGM 18-12- - - To sponsor the issue
2004 of American
Depository Shares
13-04-2004 AGM 12-06- 28-05- 01-06- Final dividend of Rs.
2004 2004 2004 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)
10-04-2003 AGM 14-06- 30-05- 14-06- AGM & Dividend
2003 2003 2003 290%
28-01-2003 EGM 22-02- - - To consider and
2003 approve the
resolutions in
connection with the
Company's
sponsored American
Depository Shares
Offering.
10-04-2002 AGM 08-06- 24-05- 08-06- Final Dividend
2002 2002 2002 250%
11-04-2001 AGM 02-06- 16-05- 02-06- -
2001 2001 2001
10-04-2000 AGM 27-05- 16-05- 27-05- -
2000 2000 2000
20-04-1999 AGM - 04-06- 12-06- AGM & Dividend
1999 1999
10-04-1998 AGM - 19-05- 30-05- -
1998 1998
16-10-1997 AGM - - - -
16-04-1997 AGM - 28-05- 07-06- Revised from 23/5/97
1997 1997

Table 4

Dividends Declared
Announcement Effective Dividend Dividend Remarks
Date Date Type (%)
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 AGM
28-09-06 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 5
Bonus History
Announcement Bonus Record Ex-Bonus Date
Date Ratio Date

14-04-2006 1:01 14-07- 13-07-2006
2006
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- 19-08-1994

1994
Table 6
Splits History
Announcement Old New

Date FV FV Ex-Split Date
30-11-1999 10 5 24-01-2000
Table 7
Competition Last Market Sales Net Total

Price Cap. Profit Assets
(Rs. cr.) Turnover
Infosys 2,190.65 125,537.21 20,264.00 5,819.00 17,809.00
TCS 540.8 105,846.51 22,404.00 4,696.21 13,486.62
Wipro 564.9 82,795.01 20,987.30 2,973.80 17,528.90
HCL Tech 306.45 20,540.01 4,675.09 997.31 3,465.91
Oracle 1,752.45 14,680.17 2,212.62 695.71 2,812.65
Financ
Mahindra 113.9 13,388.96 8,137.28 1,715.74 7,381.31
Satyam
Mphasis 561.75 11,737.29 1,451.55 264.51 1,173.90
Tech 916 11,163.06 4,357.76 986.65 1,880.90
Mahindra
Financial 1,547.25 7,099.35 334.32 368.6 1,868.83
Tech
Patni 423.2 5,421.48 1,550.45 389.15 2,522.94
Computer
Table 8
Historical Price
Date Open high low Close Volume
28-Aug-09 2,185.00 2,199.00 2,142.50 2,187.65 135,164
27-Aug-09 2,180.00 2,202.70 2,121.20 2,189.75 196,202
26-Aug-09 2,105.00 2,188.00 2,098.00 2,181.35 254,324
25-Aug-09 2,068.00 2,104.00 2,041.00 2,096.10 151,542
24-Aug-09 2,041.00 2,082.40 2,041.00 2,076.15 115,593
21-Aug-09 1,993.05 2,036.15 1,972.00 2,028.50 232,789
20-Aug-09 1,970.40 1,995.00 1,955.05 1,992.80 219,033
19-Aug-09 1,985.00 1,988.00 1,936.00 1,950.70 150,657
18-Aug-09 1,974.95 1,999.00 1,957.00 1,971.40 145,082
17-Aug-09 2,015.00 2,018.70 1,971.25 1,983.05 105,485
14-Aug-09 2,060.00 2,064.00 2,026.05 2,039.85 63,697

12-Aug-09 2,080.00 2,080.00 2,000.00 2,042.75 70,493
11-Aug-09 2,085.00 2,109.00 2,055.00 2,081.65 123,870
10-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 79,732
6-Aug-09 2,098.00 2,100.00 2,040.00 2,054.60 105,279
5-Aug-09 2,050.55 2,105.00 2,050.55 2,094.55 163,504
4-Aug-09 2,080.25 2,100.00 2,022.00 2,043.65 108,625
31-Jul-09 2,031.00 2,076.95 2,021.10 2,063.90 301,664
30-Jul-09 1,980.90 2,018.70 1,980.90 2,010.40 274,570
29-Jul-09 1,980.90 1,997.70 1,950.00 1,983.75 106,921
28-Jul-09 2,043.00 2,043.00 1,968.25 1,994.75 128,343
27-Jul-09 2,005.00 2,043.90 1,996.30 2,025.30 143,672
24-Jul-09 1,985.00 2,011.00 1,982.35 2,003.35 213,339
23-Jul-09 1,947.00 1,976.00 1,935.00 1,959.85 968,738
22-Jul-09 1,972.00 1,972.00 1,895.00 1,919.20 201,311
21-Jul-09 2,025.00 2,025.00 1,925.05 1,943.10 121,109
20-Jul-09 1,880.00 1,994.00 1,870.10 1,972.70 568,944
17-Jul-09 1,817.00 1,873.00 1,801.00 1,867.00 241,070
16-Jul-09 1,800.00 1,820.00 1,770.80 1,795.10 215,929
15-Jul-09 1,819.00 1,819.00 1,759.20 1,790.95 196,349
14-Jul-09 1,780.00 1,814.40 1,751.10 1,806.35 210,388
13-Jul-09 1,720.00 1,774.45 1,710.00 1,767.95 205,279
10-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 1,676.75 201,347
8-Jul-09 1,725.00 1,733.00 1,688.00 1,705.70 225,767
7-Jul-09 1,770.00 1,775.00 1,726.00 1,739.20 144,282
3-Jul-09 1,780.00 1,810.00 1,750.00 1,800.90 111,967
2-Jul-09 1,785.00 1,800.00 1,765.00 1,795.90 76,312
1-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 1,776.90 115,372
29-Jun-09 1,820.20 1,830.00 1,772.55 1,783.75 136,266
26-Jun-09 1,770.00 1,838.70 1,752.35 1,826.75 216,841
25-Jun-09 1,780.00 1,797.70 1,746.05 1,757.75 97,423
24-Jun-09 1,751.10 1,773.90 1,722.20 1,759.15 109,492
23-Jun-09 1,699.00 1,770.00 1,699.00 1,746.05 178,176
22-Jun-09 1,775.00 1,790.00 1,749.15 1,765.75 99,748
19-Jun-09 1,725.00 1,785.00 1,720.00 1,771.10 147,777
18-Jun-09 1,710.00 1,760.00 1,694.00 1,721.45 166,085
17-Jun-09 1,740.00 1,744.70 1,672.00 1,710.50 159,038
16-Jun-09 1,702.00 1,733.75 1,685.35 1,724.15 83,072
15-Jun-09 1,724.95 1,775.00 1,690.00 1,720.35 143,796
12-Jun-09 1,766.00 1,775.00 1,717.00 1,727.95 92,751
11-Jun-09 1,854.00 1,854.00 1,727.15 1,751.55 146,476
10-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 1,795.55 226,449
8-Jun-09 1,700.00 1,745.00 1,681.00 1,733.20 233,892
5-Jun-09 1,644.80 1,705.00 1,633.30 1,690.55 217,181
4-Jun-09 1,650.00 1,650.00 1,602.00 1,627.00 284,876
3-Jun-09 1,699.00 1,705.00 1,622.00 1,645.90 185,019
2-Jun-09 1,685.00 1,706.80 1,625.00 1,682.30 148,771
1-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 1,602.00 185,002

28-May-09 1,599.00 1,625.00 1,561.00 1,575.80 190,687
27-May-09 1,628.70 1,628.70 1,555.05 1,584.60 159,795
26-May-09 1,515.00 1,558.00 1,502.00 1,543.20 215,686
25-May-09 1,520.00 1,536.00 1,491.00 1,507.95 186,223
22-May-09 1,499.00 1,525.00 1,485.05 1,519.40 230,803
21-May-09 1,540.00 1,557.90 1,495.00 1,502.65 247,417
20-May-09 1,547.00 1,608.00 1,518.20 1,534.10 406,895
19-May-09 1,810.00 1,830.00 1,555.00 1,563.75 555,449
18-May-09 1,752.00 1,810.00 1,694.00 1,750.20 5,215
15-May-09 1,580.00 1,604.90 1,565.00 1,594.30 131,931
14-May-09 1,539.95 1,586.90 1,533.60 1,566.15 86,225
13-May-09 1,588.00 1,598.80 1,558.00 1,573.85 136,811
12-May-09 1,500.00 1,605.00 1,500.00 1,597.95 258,195
11-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 1,521.40 184,106
7-May-09 1,575.00 1,581.00 1,532.45 1,554.70 173,188
6-May-09 1,568.00 1,606.80 1,549.25 1,568.15 235,182
5-May-09 1,602.00 1,635.00 1,542.60 1,582.95 310,055
4-May-09 1,515.00 1,635.00 1,490.00 1,629.25 347,337
1-May-09 1,507.30 1,507.30 1,507.30 1,507.30 0
30-Apr-09 1,507.30 1,507.30 1,507.30 1,507.30 0
29-Apr-09 1,440.00 1,514.90 1,433.10 1,507.30 272,711
28-Apr-09 1,418.00 1,468.85 1,417.35 1,431.55 180,590
27-Apr-09 1,430.00 1,450.00 1,417.10 1,432.60 112,687
24-Apr-09 1,440.00 1,454.90 1,405.00 1,448.60 194,515
23-Apr-09 1,380.00 1,460.00 1,380.00 1,449.85 259,815
22-Apr-09 1,375.00 1,385.00 1,356.15 1,379.35 156,428
21-Apr-09 1,380.00 1,390.00 1,354.00 1,363.50 80,789
20-Apr-09 1,394.00 1,409.70 1,373.20 1,392.25 175,184
17-Apr-09 1,365.00 1,420.80 1,353.00 1,393.10 330,293
16-Apr-09 1,380.00 1,400.00 1,322.90 1,341.30 515,882
15-Apr-09 1,351.50 1,382.00 1,300.05 1,370.80 777,437
14-Apr-09 1,409.10 1,409.10 1,409.10 1,409.10 0
13-Apr-09 1,426.00 1,464.00 1,378.05 1,409.10 195,998
10-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 1,426.45 187,237
8-Apr-09 1,385.00 1,428.90 1,356.45 1,421.80 171,175
7-Apr-09 1,414.45 1,414.45 1,414.45 1,414.45 0
6-Apr-09 1,425.00 1,457.00 1,275.00 1,414.45 266,905
3-Apr-09 1,420.40 1,420.40 1,420.40 1,420.40 0
2-Apr-09 1,379.00 1,433.70 1,370.00 1,420.40 255,154
1-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 1,324.10 128,741
30-Mar-09 1,335.00 1,335.00 1,288.00 1,297.85 138,585
27-Mar-09 1,398.00 1,398.00 1,330.00 1,346.75 279,514
26-Mar-09 1,341.00 1,394.70 1,341.00 1,380.65 420,164
25-Mar-09 1,320.00 1,349.40 1,310.00 1,339.60 234,164
24-Mar-09 1,345.00 1,359.30 1,310.20 1,322.95 185,492
23-Mar-09 1,300.00 1,340.05 1,300.00 1,330.70 152,103
20-Mar-09 1,299.00 1,300.00 1,281.00 1,297.35 150,381
19-Mar-09 1,284.00 1,311.00 1,282.35 1,295.85 255,483
18-Mar-09 1,278.00 1,301.70 1,267.00 1,277.45 203,116

17-Mar-09 1,280.00 1,289.00 1,257.50 1,265.55 156,103
16-Mar-09 1,305.10 1,305.10 1,269.00 1,288.25 179,013
13-Mar-09 1,242.00 1,300.00 1,242.00 1,296.35 314,600
12-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 1,196.75 192,632
6-Mar-09 1,170.00 1,238.00 1,168.00 1,219.20 276,167
5-Mar-09 1,213.50 1,213.50 1,176.15 1,182.80 96,822
4-Mar-09 1,201.50 1,215.50 1,181.10 1,197.90 251,167
3-Mar-09 1,214.90 1,214.90 1,190.35 1,197.60 152,120
2-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 1,231.30 118,667
26-Feb-09 1,216.00 1,240.00 1,200.55 1,236.35 193,553
25-Feb-09 1,190.20 1,224.00 1,190.20 1,216.25 229,412
24-Feb-09 1,160.00 1,191.05 1,146.40 1,184.10 122,876
20-Feb-09 1,200.00 1,204.00 1,163.40 1,178.45 176,964
19-Feb-09 1,185.00 1,213.00 1,172.00 1,208.20 220,078
18-Feb-09 1,170.00 1,189.50 1,161.00 1,178.75 419,019
17-Feb-09 1,201.00 1,217.85 1,168.80 1,177.65 245,812
16-Feb-09 1,255.00 1,260.60 1,215.05 1,221.55 257,359
13-Feb-09 1,261.00 1,275.00 1,246.20 1,254.70 145,250
12-Feb-09 1,271.00 1,299.90 1,252.00 1,258.35 218,725
11-Feb-09 1,300.00 1,305.00 1,276.65 1,302.55 181,019
10-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 1,309.85 279,800
6-Feb-09 1,260.00 1,294.00 1,247.00 1,287.20 198,522
5-Feb-09 1,282.00 1,291.00 1,238.10 1,260.00 257,596
4-Feb-09 1,282.40 1,307.25 1,279.00 1,282.95 118,204
3-Feb-09 1,284.00 1,300.00 1,262.00 1,282.40 119,795
2-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 1,305.50 253,496
29-Jan-09 1,300.00 1,318.70 1,288.50 1,309.65 439,900
28-Jan-09 1,252.00 1,296.10 1,252.00 1,285.20 160,022
27-Jan-09 1,219.00 1,260.00 1,219.00 1,251.80 283,833
23-Jan-09 1,229.55 1,235.05 1,191.25 1,203.95 527,790
22-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

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%)

Resistance
Support
Figure 4
August 4, 2009 – August 28, 2009 + 123.75 (6%)
Resistance
Support
Figure 5
Difference between opening and closing
Original
%chang in
sl no. Date Open Close Chang in
price
price
1 28-Aug-09 2,185.00 2,187.65 2.65 0.121281

2 27-Aug-09 2,180.00 2,189.75 9.75 0.447248
3 26-Aug-09 2,105.00 2,181.35 76.35 3.627078
4 25-Aug-09 2,068.00 2,096.10 28.1 1.358801
5 24-Aug-09 2,041.00 2,076.15 35.15 1.722195
6 21-Aug-09 1,993.05 2,028.50 35.45 1.778681
7 20-Aug-09 1,970.40 1,992.80 22.4 1.136825
8 19-Aug-09 1,985.00 1,950.70 -34.3 -1.72796
9 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 -1.58561
11 14-Aug-09 2,060.00 2,039.85 -20.15 -0.97816
12 12-Aug-09 2,080.00 2,042.75 -37.25 -1.79087
13 11-Aug-09 2,085.00 2,081.65 -3.35 -0.16067
14 10-Aug-09 2,052.00 2,086.80 34.8 1.695906
15 7-Aug-09 2,025.00 2,041.90 16.9 0.834568
16 6-Aug-09 2,098.00 2,054.60 -43.4 -2.06864
17 5-Aug-09 2,050.55 2,094.55 44 2.145766
18 4-Aug-09 2,080.25 2,043.65 -36.6 -1.7594
19 31-Jul-09 2,031.00 2,063.90 32.9 1.619892
20 30-Jul-09 1,980.90 2,010.40 29.5 1.489222
21 29-Jul-09 1,980.90 1,983.75 2.85 0.143874
22 28-Jul-09 2,043.00 1,994.75 -48.25 -2.36172
23 27-Jul-09 2,005.00 2,025.30 20.3 1.012469
24 24-Jul-09 1,985.00 2,003.35 18.35 0.924433
25 23-Jul-09 1,947.00 1,959.85 12.85 0.65999
26 22-Jul-09 1,972.00 1,919.20 -52.8 -2.67748
27 21-Jul-09 2,025.00 1,943.10 -81.9 -4.04444
28 20-Jul-09 1,880.00 1,972.70 92.7 4.930851
29 17-Jul-09 1,817.00 1,867.00 50 2.751789
30 16-Jul-09 1,800.00 1,795.10 -4.9 -0.27222
31 15-Jul-09 1,819.00 1,790.95 -28.05 -1.54206
32 14-Jul-09 1,780.00 1,806.35 26.35 1.480337
33 13-Jul-09 1,720.00 1,767.95 47.95 2.787791
34 10-Jul-09 1,635.00 1,726.50 91.5 5.59633
35 9-Jul-09 1,708.00 1,676.75 -31.25 -1.82963
36 8-Jul-09 1,725.00 1,705.70 -19.3 -1.11884
37 7-Jul-09 1,770.00 1,739.20 -30.8 -1.74011
38 3-Jul-09 1,780.00 1,800.90 20.9 1.174157
39 2-Jul-09 1,785.00 1,795.90 10.9 0.610644
40 1-Jul-09 1,776.80 1,796.70 19.9 1.119991
41 30-Jun-09 1,785.05 1,776.90 -8.15 -0.45657
42 29-Jun-09 1,820.20 1,783.75 -36.45 -2.00253
43 26-Jun-09 1,770.00 1,826.75 56.75 3.206215
44 25-Jun-09 1,780.00 1,757.75 -22.25 -1.25
45 24-Jun-09 1,751.10 1,759.15 8.05 0.459711
46 23-Jun-09 1,699.00 1,746.05 47.05 2.769276
47 22-Jun-09 1,775.00 1,765.75 -9.25 -0.52113
48 19-Jun-09 1,725.00 1,771.10 46.1 2.672464
49 18-Jun-09 1,710.00 1,721.45 11.45 0.669591
50 17-Jun-09 1,740.00 1,710.50 -29.5 -1.6954
51 16-Jun-09 1,702.00 1,724.15 22.15 1.30141
52 15-Jun-09 1,724.95 1,720.35 -4.6 -0.26667
53 12-Jun-09 1,766.00 1,727.95 -38.05 -2.15459
54 11-Jun-09 1,854.00 1,751.55 -102.45 -5.52589
55 10-Jun-09 1,790.00 1,803.25 13.25 0.740223
56 9-Jun-09 1,720.00 1,795.55 75.55 4.392442
57 8-Jun-09 1,700.00 1,733.20 33.2 1.952941

58 5-Jun-09 1,644.80 1,690.55 45.75 2.781493
59 4-Jun-09 1,650.00 1,627.00 -23 -1.39394
60 3-Jun-09 1,699.00 1,645.90 -53.1 -3.12537
61 2-Jun-09 1,685.00 1,682.30 -2.7 -0.16024
62 1-Jun-09 1,605.00 1,676.85 71.85 4.476636
63 29-May-09 1,600.00 1,602.00 2 0.125
64 28-May-09 1,599.00 1,575.80 -23.2 -1.45091
65 27-May-09 1,628.70 1,584.60 -44.1 -2.70768
66 26-May-09 1,515.00 1,543.20 28.2 1.861386
67 25-May-09 1,520.00 1,507.95 -12.05 -0.79276
68 22-May-09 1,499.00 1,519.40 20.4 1.360907
69 21-May-09 1,540.00 1,502.65 -37.35 -2.42532
70 20-May-09 1,547.00 1,534.10 -12.9 -0.83387
71 19-May-09 1,810.00 1,563.75 -246.25 -13.605
72 18-May-09 1,752.00 1,750.20 -1.8 -0.10274
73 15-May-09 1,580.00 1,594.30 14.3 0.905063
74 14-May-09 1,539.95 1,566.15 26.2 1.701354
75 13-May-09 1,588.00 1,573.85 -14.15 -0.89106
76 12-May-09 1,500.00 1,597.95 97.95 6.53
77 11-May-09 1,529.00 1,514.50 -14.5 -0.94833
78 8-May-09 1,542.00 1,521.40 -20.6 -1.33593
79 7-May-09 1,575.00 1,554.70 -20.3 -1.28889
80 6-May-09 1,568.00 1,568.15 0.15 0.009566
81 5-May-09 1,602.00 1,582.95 -19.05 -1.18914
82 4-May-09 1,515.00 1,629.25 114.25 7.541254
83 1-May-09 1,507.30 1,507.30 0 0
84 30-Apr-09 1,507.30 1,507.30 0 0
85 29-Apr-09 1,440.00 1,507.30 67.3 4.673611
86 28-Apr-09 1,418.00 1,431.55 13.55 0.955571
87 27-Apr-09 1,430.00 1,432.60 2.6 0.181818
88 24-Apr-09 1,440.00 1,448.60 8.6 0.597222
89 23-Apr-09 1,380.00 1,449.85 69.85 5.061594
90 22-Apr-09 1,375.00 1,379.35 4.35 0.316364
91 21-Apr-09 1,380.00 1,363.50 -16.5 -1.19565
92 20-Apr-09 1,394.00 1,392.25 -1.75 -0.12554
93 17-Apr-09 1,365.00 1,393.10 28.1 2.058608
94 16-Apr-09 1,380.00 1,341.30 -38.7 -2.80435
95 15-Apr-09 1,351.50 1,370.80 19.3 1.428043
96 14-Apr-09 1,409.10 1,409.10 0 0
97 13-Apr-09 1,426.00 1,409.10 -16.9 -1.18513
98 10-Apr-09 1,426.45 1,426.45 0 0
99 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 2.65704
101 7-Apr-09 1,414.45 1,414.45 0 0
102 6-Apr-09 1,425.00 1,414.45 -10.55 -0.74035
103 3-Apr-09 1,420.40 1,420.40 0 0
104 2-Apr-09 1,379.00 1,420.40 41.4 3.002175
105 1-Apr-09 1,326.00 1,375.50 49.5 3.733032
106 31-Mar-09 1,306.00 1,324.10 18.1 1.385911
107 30-Mar-09 1,335.00 1,297.85 -37.15 -2.78277
108 27-Mar-09 1,398.00 1,346.75 -51.25 -3.66595
109 26-Mar-09 1,341.00 1,380.65 39.65 2.956749

110 25-Mar-09 1,320.00 1,339.60 19.6 1.484848
111 24-Mar-09 1,345.00 1,322.95 -22.05 -1.63941
112 23-Mar-09 1,300.00 1,330.70 30.7 2.361538
113 20-Mar-09 1,299.00 1,297.35 -1.65 -0.12702
114 19-Mar-09 1,284.00 1,295.85 11.85 0.922897
115 18-Mar-09 1,278.00 1,277.45 -0.55 -0.04304
116 17-Mar-09 1,280.00 1,265.55 -14.45 -1.12891
117 16-Mar-09 1,305.10 1,288.25 -16.85 -1.29109
118 13-Mar-09 1,242.00 1,296.35 54.35 4.376006
119 12-Mar-09 1,215.00 1,227.15 12.15 1
120 9-Mar-09 1,216.00 1,196.75 -19.25 -1.58306
Total 487.15
Average
Table 10
Opening V/S Closing

Figure 6
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 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

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

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

Sensex
Infosys

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.

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.

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

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.
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.
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 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.)
Figure 16
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.

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

Moving average crossover (parameter 9 and 30)
Figure 18
(Parameter 20, 50)
Figure 19

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.

Infosys From 2000-2008

News and Analysis
Date Particular Source

28-
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 Livemint
26- Market Intelligence
Aug Infy rise on BP relation Centre
Reuters key
BP Award Large Deal to infosys Technologies Ltd 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
Reuters key
Indian Shares Fall 0.8 pct, ICICI, Infosys drop (HCL Jumped 6 %0 Development
24-
Aug Infosys Outsourcing Unit Pursues Orders, Eyes Acquisitions Wall Street Journal
23-
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
Augu Stock to watch: Sterlite Industries, HDFC,NMDC, REC,Sun Pharma, Jet
t Airwas, Infosys Economics Times
20
Agus
t Intra-Day Sell Infosys, ICICI Bank At… Sify
19- Reuters key
Aug Indian Shares fall 1.5 Pct, led by reliance Development
19-
Aug Narayana Murthy to join NPCI My news in
Murthy to join NPCI Board as non-exe chairman Mydigitalfc.com
MSN India
after Nilekani, NRN to take up a government assignment (Domain-B
18-
Aug Infosys looking for new billing modes to protect margins Economics Times
Daily news &
Infosys Pushing result-based sales model analysis
Hindu Business
Tough time to continue for another quarter or two:Infosys 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

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
Financial express ,
Infosys has bid for over 10 govt deals Reuters
New Zealand
Indian tech company infosys to expand operation in NZ Herald
Fianancial
Express,Economics
Indian ADRs loss $ 1.44 bn in one week 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
Press Trust of India,
Economic
Times,Deccan
Infosys most admired Indian Company : WSJ survey Herald
Reuters, financial
Indian Shares fall 0.3 Pct, Infosys drop express
13-
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 Reutes
11- Independent Research Firm Names Infosys Technologies as a leader in
Aug SAP Implementation PR Newswire
Infosys Named leader in SAP implementation EFY Times
Forrester Lauds Infosys as SAP leader CIOL
ISI-Emerging
Infosys eyes Latin american acquisitions,wins Bancoombia as client 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
Computer
Stand out from the IT jobs crowd - top tips from Infosys 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

Aug
7- Trading Markets
Aug Infosys BPO wins T-Mobile UK contract (press release)
6- Hindu Business
Aug Infosys pursuing 12-15 deals in $1-b range Line
Infosys Technologies (INFY) PriceWatch Alert For 8/6/2009 - Covered Call Market Intelligence
Risk Ranking Declines to 2 Keys 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
Risk Ranking Improves to 3 Keys 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- Infosys Technologies (INFY) PriceWatch Alert With 6.18% Market Intelligence
Aug Downside Protection Centre
Risk Ranking Declines to 2 Keys Centre
Infosys Technologies Ltd.'s Infosys BPO Inks Five Year Deal With T-Mobile Reuters key
UK-Business Standard 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- PR Web (press
Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings release)
31- Market Intelligence
Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $41.41 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

30-
Jul Infosys Wins 10-Year E-Government Contract From Commerce Ministry Indian Journal
Indian ADRs Gain $7 Billion; Infosys Leads the Pack Indian Journal
29-
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 Market Intelligence
Call Risk Ranking Improves to 3 Keys Centre
SABMiller Selects Infosys Technologies EFY Times
Infosys to Improve SABMiller's Marketing Campaigns CXOToday.com
SABMiller Chooses Infosys Technologies Limited To Conduct In- Reuters key
Store Projects Development
Indian Outsourcing: Moving Past Economic Turmoil With A Trading Markets
Positive Quarter (press release)
Infosys eyeing Tier-II cities for expansion Indopia
Hindu Business
Infosys eyeing smaller cities for expansion Line
MSN India
Infosys eyeing Tier II cities like Mysore, Kochi, Madurai (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
Trading Markets
Infosys to bid for UID projects; nobody to succeed Nilekani (press release)
Transparency to be maintained on inking UIAI deal: Infosys Indopia
India tech stocks still a good play or overpriced? Reuters
27- Gerson Lehrman
Jul Top VARs Vie For $1 Billion IT Contract With BP 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
ISI-Emerging
RBS yet to take a call on ABN's USD 500mn outsourcing contracts Markets
Market Intelligence
Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Centre
Recession? TCS, Infosys, Wipro, HCL bag large outsourcing deals Economics Times
Indian outsourcers using slump to get bigger ZDNet Asia
Hindu Business
IT firms speed up patent filing Line
Hindu, Economics
26- times, hindustan
Jul Indian ADRs gain $7 billion; Infosys leads the pack Times
52-Week High Companies: China Life Insurance Company, Infosys
25- Technologies, Archer Daniels Midland Company, Ford Motor Company,
Jul The TJX Companies, and Starbucks Corp. GuruFocus.com
24- Tata Consultancy Services Ltd And Infosys Technologies Ltd. Vie For $1 Reuters key
Jul Billion BP Deal-Reuters 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

(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- Hindu Business
Jul IT companies reconciling to pay more tax as STP exemption ends 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 Reuters key
and Industry Development
21- Infosys move is obvious in providing cautious view due to Gerson Lehrman
Jul market uncertainties 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 key
Reuters 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 Telecompaper
20-
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- Hindu Business
Jul IT firms spend more on R&D to offer new services 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- Trading Markets
Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 44.4% (press release)
Alibaba News
India's Tata Consultancy Q1 net up; sees uncertainty Channel
16-
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.com
14-
Jul Nilekani: ID'ing the masses may solve Indian identity crisis MSN India
Trading Markets
Oracle and Infosys jointly develop distribution offering (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
Budapest Business
Infosys Q1 profit beats estimates Journal
Sensex recovers partially led by Infosys, ITC India Infoline.com
Prdomain Business
register (press
Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives 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
Hindu Business
Infosys' revenues from BT to shrink further 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 Utvi
10-
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
Business News
Infosys sees Q1 North America profits up 16% 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
Reuter key
9-Jul Outsider may be the next chairman of Infosys: Murthy 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 Bloomberg
8-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 Forbes
7-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
Option Monster
6-Jul Infosys faces bearish trade Research
Trading Markets
Infosys Technologies Sets 1Q Earnings Release Date (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- Daily news &
Jun Infosys reverberates at TCS annual meeting analysis
29-
Jun Infosys Technologies to Announce First Quarter Results on July 10, 2009 Market Watch

Infosys Tech to announce Q1 results on July 10 India Infoline.com
28-
Jun Indian ADRs add $4 bn to their kitty; Infosys gains $1 bn Economics Times
26-
Jul Tax holidays must be extended: Infosys Utvi
25-
Jun IT majors vie for slice of UBS' offshoring contract Economics Times
23-
Jun ONGC to rope in Infosys for knowledge mgmt Myiris.com
20-
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 News
18- UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Reuters key
Jun Companies Including Infosys Technologies Limited-DJ 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 Reuters key
Order From Microsoft-DJ Development
UBS in talks with Infosys, Wipro for sale of BPO, KPO units Economics Times
15- Hindu Business
Jun Infosys eyes buys in Mexico, Brazil to improve operations 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
Trading Markets
Infosys hopes huge business from Latin America (press release)
Avi Infosys, Dubai, receives ISO 9001:2008 Quality Management
System Certification AME Info
US recovery speeding up' Hindustan times
11-
Jun Telstra Selects Infosys as a Key Strategic Partner IT News Online
Computer Business
Infosys explores new engagement models review
10-
Jun Infosys hopes huge business from Latin America Economics Times
Sell Infosys with stoploss of Rs 1830: Reliance Money Economics Times
9-
Jun Sensex in India Surges 3%, Infosys, Satyam Rise 123Jumps.com
8-
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- Reuters key
Jun Infosys Technologies Ltd. Plans To Set Up Unit In Brazil-DJ Development

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 Impact

Ne hig
ws open- h-
Open high low Close Volume open-low
Da close op
te en
28-
Au
g- 14.
09 2,185.00 2,199.00 2,142.50 2,187.65 135,164 -2.65 00 42.50
27-
Au
g- 22.
09 2,180.00 2,202.70 2,121.20 2,189.75 196,202 -9.75 70 58.80
26-
Au
g- 83.
09 2,105.00 2,188.00 2,098.00 2,181.35 254,324 -76.35 00 7.00
25-
Au
g- 36.
09 2,068.00 2,104.00 2,041.00 2,096.10 151,542 -28.10 00 27.00
24-
Au
g- 41.
09 2,041.00 2,082.40 2,041.00 2,076.15 115,593 -35.15 40 0.00
23-
Au
g- 0.0
09 0.00 0 0.00
20-
Au
g- 24.
09 1,970.40 1,995.00 1,955.05 1,992.80 219,033 -22.40 60 15.35
19-
Au
g- 3.0
09 1,985.00 1,988.00 1,936.00 1,950.70 150,657 34.30 0 49.00
18- 1,974.95 1,999.00 1,957.00 1,971.40 145,082 3.55 24. 17.95
Au 05

g-
09
17-
Au
g- 3.7
09 2,015.00 2,018.70 1,971.25 1,983.05 105,485 31.95 0 43.75
16-
Au
g- 0.0
09 0.00 0 0.00
14-
Au
g- 4.0
09 2,060.00 2,064.00 2,026.05 2,039.85 63,697 20.15 0 33.95
13-
Au
g- 0.0
09 0.00 0 0.00
12-
Au
g- 0.0
09 2,080.00 2,080.00 2,000.00 2,042.75 70,493 37.25 0 80.00
11-
Au
g- 24.
09 2,085.00 2,109.00 2,055.00 2,081.65 123,870 3.35 00 30.00
10-
Au
g- 61.
09 2,052.00 2,113.00 2,050.05 2,086.80 225,757 -34.80 00 1.95
9-
Au
g- 0.0
09 0.00 0 0.00
8-
Au
g- 0.0
09 0.00 0 0.00
7-
Au
g- 31.
09 2,025.00 2,056.00 2,015.00 2,041.90 79,732 -16.90 00 10.00
6-
Au
g- 2.0
09 2,098.00 2,100.00 2,040.00 2,054.60 105,279 43.40 0 58.00
5-
Au
g- 54.
09 2,050.55 2,105.00 2,050.55 2,094.55 163,504 -44.00 45 0.00
4-
Au
g- 19.
09 2,080.25 2,100.00 2,022.00 2,043.65 108,625 36.60 75 58.25
3- 0.00 0.0 0.00
Au 0
g-

09
2-
Au
g- 0.0
09 0.00 0 0.00
31-
Jul 45.
-09 2,031.00 2,076.95 2,021.10 2,063.90 301,664 -32.90 95 9.90
30-
Jul 37.
-09 1,980.90 2,018.70 1,980.90 2,010.40 274,570 -29.50 80 0.00
29-
Jul 16.
-09 1,980.90 1,997.70 1,950.00 1,983.75 106,921 -2.85 80 30.90
28-
Jul 0.0
-09 2,043.00 2,043.00 1,968.25 1,994.75 128,343 48.25 0 74.75
27-
Jul 38.
-09 2,005.00 2,043.90 1,996.30 2,025.30 143,672 -20.30 90 8.70
26-
Jul 0.0
-09 0.00 0 0.00
25-
Jul 0.0
-09 0.00 0 0.00
24-
Jul 26.
-09 1,985.00 2,011.00 1,982.35 2,003.35 213,339 -18.35 00 2.65
23-
Jul 29.
-09 1,947.00 1,976.00 1,935.00 1,959.85 968,738 -12.85 00 12.00
22-
Jul 0.0
-09 1,972.00 1,972.00 1,895.00 1,919.20 201,311 52.80 0 77.00
21-
Jul 0.0
-09 2,025.00 2,025.00 1,925.05 1,943.10 121,109 81.90 0 99.95
20-
Jul 114
-09 1,880.00 1,994.00 1,870.10 1,972.70 568,944 -92.70 .00 9.90
19-
Jul 0.0
-09 0.00 0 0.00
17-
Jul 56.
-09 1,817.00 1,873.00 1,801.00 1,867.00 241,070 -50.00 00 16.00
16-
Jul 20.
-09 1,800.00 1,820.00 1,770.80 1,795.10 215,929 4.90 00 29.20
15-
Jul 0.0
-09 1,819.00 1,819.00 1,759.20 1,790.95 196,349 28.05 0 59.80
14-
Jul 34.
-09 1,780.00 1,814.40 1,751.10 1,806.35 210,388 -26.35 40 28.90
13- 1,720.00 1,774.45 1,710.00 1,767.95 205,279 -47.95 54. 10.00

Jul
-09 45
12-
Jul 0.0
-09 0.00 0 0.00
11-
Jul 0.0
-09 0.00 0 0.00
10-
Jul 132
-09 1,635.00 1,767.00 1,635.00 1,726.50 596,974 -91.50 .00 0.00
9-
Jul 4.0
-09 1,708.00 1,712.00 1,670.00 1,676.75 201,347 31.25 0 38.00
8-
Jul 8.0
-09 1,725.00 1,733.00 1,688.00 1,705.70 225,767 19.30 0 37.00
7-
Jul 5.0
-09 1,770.00 1,775.00 1,726.00 1,739.20 144,282 30.80 0 44.00
6-
Jul 0.0
-09 0.00 0 0.00
1-
Jul 36.
-09 1,776.80 1,812.90 1,771.05 1,796.70 99,230 -19.90 10 5.75
30-
Ju
n- 13.
09 1,785.05 1,799.00 1,760.00 1,776.90 115,372 8.15 95 25.05
29-
Ju
n- 9.8
09 1,820.20 1,830.00 1,772.55 1,783.75 136,266 36.45 0 47.65
28-
Ju
n- 0.0
09 0.00 0 0.00
26-
Ju
n- 68.
09 1,770.00 1,838.70 1,752.35 1,826.75 216,841 -56.75 70 17.65
25-
Ju
n- 17.
09 1,780.00 1,797.70 1,746.05 1,757.75 97,423 22.25 70 33.95
23-
Ju
n- 71.
09 1,699.00 1,770.00 1,699.00 1,746.05 178,176 -47.05 00 0.00
20-
Ju
n- 0.0
09 0.00 0 0.00
19- 1,725.00 1,785.00 1,720.00 1,771.10 147,777 -46.10 60. 5.00
Ju 00
n-

09
18-
Ju
n- 50.
09 1,710.00 1,760.00 1,694.00 1,721.45 166,085 -11.45 00 16.00
15-
Ju
n- 50.
09 1,724.95 1,775.00 1,690.00 1,720.35 143,796 4.60 05 34.95
14-
Ju
n- 0.0
09 0.00 0 0.00
11-
Ju
n- 0.0
09 1,854.00 1,854.00 1,727.15 1,751.55 146,476 102.45 0 126.85
10-
Ju
n- 46.
09 1,790.00 1,836.00 1,762.05 1,803.25 289,306 -13.25 00 27.95
9-
Ju
n- 80.
09 1,720.00 1,800.00 1,720.00 1,795.55 226,449 -75.55 00 0.00
8-
Ju
n- 45.
09 1,700.00 1,745.00 1,681.00 1,733.20 233,892 -33.20 00 19.00
7-
Ju
n- 0.0
09 0.00 0 0.00
6-
Ju
n- 0.0
09 0.00 0 0.00
5-
Ju
n- 60.
09 1,644.80 1,705.00 1,633.30 1,690.55 217,181 -45.75 20 11.50
3-
Ju
n- 6.0
09 1,699.00 1,705.00 1,622.00 1,645.90 185,019 53.10 0 77.00
Table 11

Block Deals
Date Type Company QuantityPrice

25-Jun- BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX
Buy 334554 1775
09 MAURITIUS CO
25-Jun- CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL
Sell 334554 1775
09 CODE
10-Jan-
Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660
08
10-Jan-
Sell JF ASSET MANAGEMENT FII 356000 1660
08
Table 12
Option Price
Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep '09 Call 2190.00 32000 76.00 28 Aug '09 15:57
24 Sep '09 Put 2100.00 22800 42.00 28 Aug '09 15:00
24 Sep '09 Call 2250.00 15000 50.50 28 Aug '09 15:34
24 Sep '09 Put 2190.00 12400 74.80 28 Aug '09 15:35
24 Sep '09 Call 2280.00 11000 38.75 28 Aug '09 15:34
24 Sep '09 Call 2160.00 9000 96.00 28 Aug '09 15:53
24 Sep '09 Put 2160.00 7800 63.90 28 Aug '09 15:53
24 Sep '09 Put 2010.00 6000 22.85 28 Aug '09 15:59
29 Oct '09 Call 2280.00 5600 88.55 28 Aug '09 15:34
24 Sep '09 Call 2220.00 5200 65.00 28 Aug '09 15:34
24 Sep '09 Put 1890.00 4600 6.00 28 Aug '09 15:54
24 Sep '09 Put 2040.00 4200 21.00 28 Aug '09 15:59
24 Sep '09 Put 2070.00 3600 27.10 28 Aug '09 15:59
24 Sep '09 Call 2130.00 1600 95.00 28 Aug '09 15:34
24 Sep '09 Put 1980.00 1600 14.50 28 Aug '09 15:32
24 Sep '09 Put 2130.00 1400 48.00 28 Aug '09 15:34
24 Sep '09 Put 1890.00 400 11.00 26 Aug '09 14:00
24 Sep '09 Put 1920.00 400 13.55 26 Aug '09 15:25
29 Oct '09 Put 2160.00 400 131.20 28 Aug '09 15:56
29 Oct '09 Call 2160.00 200 128.00 28 Aug '09 14:39
Table 13

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.

BIBLIOGRAPHY
1. “Security Analysis and Portfolio Management” By “Pandian

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

Technical Analysis of Infosys Technology

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Technical Analysis of Infosys Technology

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SUMMER INTERNSHIP

TECHNICAL ANALYSIS OF INFOSYS

GULF BULLS SECURITIES PVT LTD.

Date of Submission: August 25, 2009

AIT-School Of Management, Greater Noida -1-

This report “Technical Analysis of Infosys Technology Limited”

25th August, 2009

AIT-School Of Management, Greater Noida -4-

I would then like to thank my faculty guide, Prof. J.S.

I would like to thank the corporate guide Mr.Dinesh

I would like to dedicate this project to my parents &

AIT-School Of Management, Greater Noida -6-

This project will be useful to both speculators and investors, being a

AIT-School Of Management, Greater Noida -7-

AIT-School Of Management, Greater Noida -9-

The methods used to analyze securities and make investment decisions

What Is Technical Analysis?

AIT-School Of Management, Greater Noida - 10 -

The field of technical analysis is based on three assumptions:

1. The market discounts everything.

3. History tends to repeat itself

Scope of the Study

This study aims to make a technical analysis of Infosys technology ltd.

Objective of the Study

a. To compare the movement of stock price of Infosys technology

Limitation of the Study

AIT-School Of Management, Greater Noida - 12 -

Type Public BSE: 500209

AIT-School Of Management, Greater Noida - 13 -

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

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

Murthy. The company was incorporated as "Infosys Consultants Pvt

Ltd.", with Raghavan's house in Model Colony, north-central Pune as

the registered office.

AIT-School Of Management, Greater Noida - 14 -

Infosys went public in 1993. Interestingly, Infosys IPO was

undersubscribed but it was "bailed out" by US investment banker

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

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)

AIT-School Of Management, Greater Noida - 15 -

for the same.

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

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

employees on account of bad performance. The company has been hit

its revenue in a decade during the March 2009 quarter.