Technical Analysis of Infosys Technology by Bipul Kumar

66
AIT-School Of Management, Greater Noida - 1 - 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

description

a project on techinical analysis of infosis technologies

Transcript of Technical Analysis of Infosys Technology by Bipul Kumar

Page 1: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 1 -

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 - 2 -

AIT-School Of Management Greater Noida - 3 -

AIT-School Of Management Greater Noida - 4 -

AUTHORISATION

This report ldquoTechnical Analysis of Infosys Technology Limitedrdquo

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

AIT-School Of Management Greater Noida - 5 -

AIT-School Of Management Greater Noida - 6 -

ACKNOWLEDGEMENTS I would like to express my sincere gratitude to my trainer Ms Himani Grover

Relation Ship Manager ndashGulf 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 JS 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 MrDinesh 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 amp 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

AIT-School Of Management Greater Noida - 7 -

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 soothsayersfinancial 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 ndash volume

and supply ndash 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 ldquoInfosys Technology

Limitedrdquo

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

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 2: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 2 -

AIT-School Of Management Greater Noida - 3 -

AIT-School Of Management Greater Noida - 4 -

AUTHORISATION

This report ldquoTechnical Analysis of Infosys Technology Limitedrdquo

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

AIT-School Of Management Greater Noida - 5 -

AIT-School Of Management Greater Noida - 6 -

ACKNOWLEDGEMENTS I would like to express my sincere gratitude to my trainer Ms Himani Grover

Relation Ship Manager ndashGulf 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 JS 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 MrDinesh 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 amp 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

AIT-School Of Management Greater Noida - 7 -

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 soothsayersfinancial 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 ndash volume

and supply ndash 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 ldquoInfosys Technology

Limitedrdquo

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

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 3: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 3 -

AIT-School Of Management Greater Noida - 4 -

AUTHORISATION

This report ldquoTechnical Analysis of Infosys Technology Limitedrdquo

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

AIT-School Of Management Greater Noida - 5 -

AIT-School Of Management Greater Noida - 6 -

ACKNOWLEDGEMENTS I would like to express my sincere gratitude to my trainer Ms Himani Grover

Relation Ship Manager ndashGulf 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 JS 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 MrDinesh 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 amp 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

AIT-School Of Management Greater Noida - 7 -

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 soothsayersfinancial 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 ndash volume

and supply ndash 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 ldquoInfosys Technology

Limitedrdquo

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

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 4: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 4 -

AUTHORISATION

This report ldquoTechnical Analysis of Infosys Technology Limitedrdquo

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

AIT-School Of Management Greater Noida - 5 -

AIT-School Of Management Greater Noida - 6 -

ACKNOWLEDGEMENTS I would like to express my sincere gratitude to my trainer Ms Himani Grover

Relation Ship Manager ndashGulf 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 JS 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 MrDinesh 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 amp 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

AIT-School Of Management Greater Noida - 7 -

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 soothsayersfinancial 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 ndash volume

and supply ndash 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 ldquoInfosys Technology

Limitedrdquo

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

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 5: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 5 -

AIT-School Of Management Greater Noida - 6 -

ACKNOWLEDGEMENTS I would like to express my sincere gratitude to my trainer Ms Himani Grover

Relation Ship Manager ndashGulf 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 JS 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 MrDinesh 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 amp 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

AIT-School Of Management Greater Noida - 7 -

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 soothsayersfinancial 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 ndash volume

and supply ndash 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 ldquoInfosys Technology

Limitedrdquo

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

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 6: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 6 -

ACKNOWLEDGEMENTS I would like to express my sincere gratitude to my trainer Ms Himani Grover

Relation Ship Manager ndashGulf 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 JS 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 MrDinesh 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 amp 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

AIT-School Of Management Greater Noida - 7 -

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 soothsayersfinancial 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 ndash volume

and supply ndash 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 ldquoInfosys Technology

Limitedrdquo

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

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 7: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 7 -

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 soothsayersfinancial 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 ndash volume

and supply ndash 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 ldquoInfosys Technology

Limitedrdquo

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

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 8: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 8 -

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 ndash Infosys Technology 18

b Capital Structure 19

c Share Holding Pattern 20

d AGMEGM 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 VS Closing 34

d Opening VS High 36

e Opening VS Low 37

f Sensex VS 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

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 9: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 9 -

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 AGMEGM 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

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 10: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 10 -

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 doesnt 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 securitys 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 dont care whether a stock is undervalued - the only thing that

matters is a securitys 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 - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 11: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 11 -

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 stocks price

reflects everything that has or could affect the company - including

fundamental factors Technical analysts believe that the companys

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

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 12: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 12 -

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

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 13: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 13 -

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 21693 crore ($466 billion) (FY 2008-09)[1]

Net income Rs 5988 crore ($128 billion) (FY 2008-09)[1]

Employees 104850 [2]

Subsidiaries Infosys BPO

Infosys Consulting

Infosys Australia

Infosys China

Infosys Mexico

Infosys Sweden

Website wwwinfosyscom

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 14: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 14 -

Introduction

Infosys Technologies Limited (BSE 500209 NASDAQ INFY) is a

multinational information technology services company headquartered

in Bangalore India It is one of Indias largest IT companies with

104850 professionals (including subsidiaries) as of Mar 31 2009It 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 10000 from his wife Sudha Murthy The company

was incorporated as Infosys Consultants Pvt Ltd with Raghavans

house in Model Colony north-central Pune as the registered office

In 1982 Infosys opened an office in Bangalore which soon became its

headquarters

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 15: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 15 -

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 8100 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

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 16: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 16 -

Infosys was rated best employer to work for in 2000 2001 and 2002 by

Hewitt Associates In 2007 Infosys received over 13 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 BusinessWeeks 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

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 17: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 17 -

Infosys serves various industries through its Industrial Business Units

(IBU) such as

Banking amp 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 BIDW

BPM-EAI

Infrastructure Management Services (IMS)

Product Engineering and Validation Services (PEVS)

Systems Integration (SI)

Finacle Core Banking Product

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 18: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 18 -

Management - Infosys

Name Designation

N R Narayana Murthy Chairman amp Chief Mentor

S Gopalakrishnan Managing Director amp 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 amp 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

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 19: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 19 -

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

SampP 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

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 20: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 20 -

Infosys Technologies

Capital Structure

Period Instrument --- CAPITAL (Rs cr) --- - P A I D U P -

From To Authorised Issued Shares (nos) Face Value Capital

2008 2009 Equity Share 21475 21475 572830043 5 21475

2007 2008 Equity Share 21475 21475 571995758 5 21475

2006 2007 Equity Share 21475 21475 571209862 5 21475

2005 2006 Equity Share 150 13778 275554980 5 13778

2004 2005 Equity Share 150 13529 270570549 5 13529

2003 2004 Equity Share 50 3332 66641056 5 3332

2002 2003 Equity Share 50 3312 66243078 5 3312

2001 2002 Equity Share 50 3309 66186130 5 3309

2000 2001 Equity Share 50 3308 66158117 5 3308

1999 2000 Equity Share 50 3308 66150700 5 3308

1998 1999 Equity Share 50 3307 33069400 10 3307

1997 1998 Equity Share 30 1602 16017200 10 1602

1996 1997 Equity Share 10 726 7259600 10 726

1995 1996 Equity Share 10 726 7258600 10 726

1994 1995 Equity Share 10 726 7258600 10 726

1993 1994 Equity Share 4 335 3352100 10 335

1992 1993 Equity Share 4 198 1976100 10 198

Table 2

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 21: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 21 -

Share Holding Pattern

categories (Promoter amp Non Promters)

Shareholding as on 30062009 31032009 31122008

Face Value 500 500 500

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

No Of

Shares

Holdin

g

PROMOTERS HOLDING

Indian Promoters 94484978 1649 94484978 1649 94484978 1650

Sub Total 94484978 1649 94484978 1649 94484978 1650

NON PROMOTERS HOLDING

Institutional Investors

Mutual Funds and

UTI

23826059 416 20519719 358 22620828 395

Banks Fin Inst and

Insurance

23671621 413 23801421 416 26785309 468

FIIs 20433781

3

3566 19966412

4

3486 18893652

3

3299

Sub Total 25183549

3

4395 24398526

4

4259 23834266

0

4162

Other Investors

Private Corporate

Bodies

22579774 394 20085568 351 21334356 373

NRIsOCBsForeig

n Others

4956706 086 5105579 089 5204554 091

Others 10757902

1

1877 11243318

7

1963 11227405

4

1961

Sub Total 13511550

1

2358 13762433

4

2403 13881296

4

2424

General Public 91623205 1599 96735467 1689 10100090

1

1764

Grand Total 57305917

7

10000 57283004

3

10000 57264150

3

10000

Table 3

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 22: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 22 -

AGMEGM DETAIL Announcement

Date

Purpose Date Book Closure Remarks

From To

15-04-2009 AGM 20-06-

2009

06-06-

2009

20-06-

2009

270 Dividend

15-04-2008 AGM 14-06-

2008

31-05-

2008

14-06-

2008

545 Dividend

(Final Dividend

145 + Special

Dividend 400)

13-04-2007 AGM 22-06-

2007

08-06-

2007

22-06-

2007

130 Final

Dividend

11-10-2006 EGM 07-11-

2006

- - To seek approval

for the Secondary

American

Depositary Share

Offering and

expects the Offering

to be completed

thereafter

14-04-2006 AGM 10-06-

2006

27-05-

2006

10-06-

2006

770 Dividend (Rs

30- for Silver

Jublee Special

Dividend and Rs

850- for Final

Dividend)

14-04-2005 AGM 11-06-

2005

03-06-

2005

11-06-

2005

Final dividend of

Rs 650 per share

(130 on an equity

share par value Rs

5-)

22-11-2004 EGM 18-12-

2004

- - To sponsor the issue

of American

Depository Shares

13-04-2004 AGM 12-06-

2004

28-05-

2004

01-06-

2004

Final dividend of

Rs 15- per share

(300 on an equity

share par value Rs

5-) amp Special one-

time dividend of Rs

100- per share

(2000 on an

equity share par

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 23: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 23 -

value of Rs 5-)

(Revised)

10-04-2003 AGM 14-06-

2003

30-05-

2003

14-06-

2003

AGM amp Dividend

290

28-01-2003 EGM 22-02-

2003

- - To consider and

approve the

resolutions in

connection with the

Companys

sponsored American

Depository Shares

Offering

10-04-2002 AGM 08-06-

2002

24-05-

2002

08-06-

2002

Final Dividend

250

11-04-2001 AGM 02-06-

2001

16-05-

2001

02-06-

2001

-

10-04-2000 AGM 27-05-

2000

16-05-

2000

27-05-

2000

-

20-04-1999 AGM - 04-06-

1999

12-06-

1999

AGM amp Dividend

10-04-1998 AGM - 19-05-

1998

30-05-

1998

-

16-10-1997 AGM - - - -

16-04-1997 AGM - 28-05-

1997

07-06-

1997

Revised from

23597

Source Religare Technova

Table 4

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 24: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 24 -

Dividends Declared

Announcement Date

Effective Date

Dividend Type

Dividend ()

Remarks

15-04-09 04-06-09 Final 27000 -

25-09-08 16-10-08 Interim 20000 -

15-04-08 29-05-08 Final 54500 (Final Dividend 145 + Special Dividend 400)

26-09-07 18-10-07 Interim 12000 -

13-04-07 06-06-07 Final 13000 AGM

28-09-06 19-10-06 Interim 10000 -

14-04-06 25-05-06 Final 77000 Silver Jubilee special dividend of Rs 30 per share (600 on par value of Rs 5 per share) amp final dividend of Rs 850- per share (170 on an equity share par value Rs 5-)

23-09-05 17-10-05 Interim 13000 -

14-04-05 01-06-05 Final 13000 Final dividend of Rs 650 per share (130 on an equity share par value Rs 5-)

01-10-04 18-10-04 Interim 10000 (100 on a par value of Rs5- per share)

13-04-04 26-05-04 Final 230000 Final dividend of Rs 15- per share (300 on an equity share par value Rs 5-) amp Special one-time dividend of Rs 100- per share (2000 on an equity share par value of Rs 5-) (Revised)

Table 5 Source Religare Technova

Bonus History Announcement Date

Bonus Ratio

Record Date

Ex-Bonus Date

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 25: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 25 -

14-04-2006 101 14-07-2006

13-07-2006

13-04-2004 301 272004 172004

25-01-1999 101 531999 821999

18-06-1997 101 1291997 19-08-1997

30-06-1994 101 15-09-1994

19-08-1994

Source Religare Technova

Table 6

Splits History

Announcement

Date

Old

FV

New

FV Ex-Split Date

30-11-1999 10 5 24-01-2000

Source Religare Technova

Table 7

Competition

Last Price

Market Cap Sales Net Profit Total Assets

(Rs cr) Turnover

Infosys 219065 12553721 2026400 581900 1780900

TCS 5408 10584651 2240400 469621 1348662

Wipro 5649 8279501 2098730 297380 1752890

HCL Tech 30645 2054001 467509 99731 346591

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 26: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 26 -

Oracle Financ

175245 1468017 221262 69571 281265

Mahindra Satyam

1139 1338896 813728 171574 738131

Mphasis 56175 1173729 145155 26451 117390

Tech Mahindra

916 1116306 435776 98665 188090

Financial 154725 709935 33432 3686 186883

Tech

Patni Computer

4232 542148 155045 38915 252294

Table 8

Historical Price

Date Open high low Close Volume

28-Aug-09 218500 219900 214250 218765 135164

27-Aug-09 218000 220270 212120 218975 196202

26-Aug-09 210500 218800 209800 218135 254324

25-Aug-09 206800 210400 204100 209610 151542

24-Aug-09 204100 208240 204100 207615 115593

21-Aug-09 199305 203615 197200 202850 232789

20-Aug-09 197040 199500 195505 199280 219033

19-Aug-09 198500 198800 193600 195070 150657

18-Aug-09 197495 199900 195700 197140 145082

17-Aug-09 201500 201870 197125 198305 105485

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 27: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 27 -

14-Aug-09 206000 206400 202605 203985 63697

12-Aug-09 208000 208000 200000 204275 70493

11-Aug-09 208500 210900 205500 208165 123870

10-Aug-09 205200 211300 205005 208680 225757

7-Aug-09 202500 205600 201500 204190 79732

6-Aug-09 209800 210000 204000 205460 105279

5-Aug-09 205055 210500 205055 209455 163504

4-Aug-09 208025 210000 202200 204365 108625

31-Jul-09 203100 207695 202110 206390 301664

30-Jul-09 198090 201870 198090 201040 274570

29-Jul-09 198090 199770 195000 198375 106921

28-Jul-09 204300 204300 196825 199475 128343

27-Jul-09 200500 204390 199630 202530 143672

24-Jul-09 198500 201100 198235 200335 213339

23-Jul-09 194700 197600 193500 195985 968738

22-Jul-09 197200 197200 189500 191920 201311

21-Jul-09 202500 202500 192505 194310 121109

20-Jul-09 188000 199400 187010 197270 568944

17-Jul-09 181700 187300 180100 186700 241070

16-Jul-09 180000 182000 177080 179510 215929

15-Jul-09 181900 181900 175920 179095 196349

14-Jul-09 178000 181440 175110 180635 210388

13-Jul-09 172000 177445 171000 176795 205279

10-Jul-09 163500 176700 163500 172650 596974

9-Jul-09 170800 171200 167000 167675 201347

8-Jul-09 172500 173300 168800 170570 225767

7-Jul-09 177000 177500 172600 173920 144282

3-Jul-09 178000 181000 175000 180090 111967

2-Jul-09 178500 180000 176500 179590 76312

1-Jul-09 177680 181290 177105 179670 99230

30-Jun-09 178505 179900 176000 177690 115372

29-Jun-09 182020 183000 177255 178375 136266

26-Jun-09 177000 183870 175235 182675 216841

25-Jun-09 178000 179770 174605 175775 97423

24-Jun-09 175110 177390 172220 175915 109492

23-Jun-09 169900 177000 169900 174605 178176

22-Jun-09 177500 179000 174915 176575 99748

19-Jun-09 172500 178500 172000 177110 147777

18-Jun-09 171000 176000 169400 172145 166085

17-Jun-09 174000 174470 167200 171050 159038

16-Jun-09 170200 173375 168535 172415 83072

15-Jun-09 172495 177500 169000 172035 143796

12-Jun-09 176600 177500 171700 172795 92751

11-Jun-09 185400 185400 172715 175155 146476

10-Jun-09 179000 183600 176205 180325 289306

9-Jun-09 172000 180000 172000 179555 226449

8-Jun-09 170000 174500 168100 173320 233892

5-Jun-09 164480 170500 163330 169055 217181

4-Jun-09 165000 165000 160200 162700 284876

3-Jun-09 169900 170500 162200 164590 185019

2-Jun-09 168500 170680 162500 168230 148771

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 28: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 28 -

1-Jun-09 160500 168500 160500 167685 232541

29-May-09 160000 161470 157980 160200 185002

28-May-09 159900 162500 156100 157580 190687

27-May-09 162870 162870 155505 158460 159795

26-May-09 151500 155800 150200 154320 215686

25-May-09 152000 153600 149100 150795 186223

22-May-09 149900 152500 148505 151940 230803

21-May-09 154000 155790 149500 150265 247417

20-May-09 154700 160800 151820 153410 406895

19-May-09 181000 183000 155500 156375 555449

18-May-09 175200 181000 169400 175020 5215

15-May-09 158000 160490 156500 159430 131931

14-May-09 153995 158690 153360 156615 86225

13-May-09 158800 159880 155800 157385 136811

12-May-09 150000 160500 150000 159795 258195

11-May-09 152900 153800 149535 151450 81390

8-May-09 154200 157190 150300 152140 184106

7-May-09 157500 158100 153245 155470 173188

6-May-09 156800 160680 154925 156815 235182

5-May-09 160200 163500 154260 158295 310055

4-May-09 151500 163500 149000 162925 347337

1-May-09 150730 150730 150730 150730 0

30-Apr-09 150730 150730 150730 150730 0

29-Apr-09 144000 151490 143310 150730 272711

28-Apr-09 141800 146885 141735 143155 180590

27-Apr-09 143000 145000 141710 143260 112687

24-Apr-09 144000 145490 140500 144860 194515

23-Apr-09 138000 146000 138000 144985 259815

22-Apr-09 137500 138500 135615 137935 156428

21-Apr-09 138000 139000 135400 136350 80789

20-Apr-09 139400 140970 137320 139225 175184

17-Apr-09 136500 142080 135300 139310 330293

16-Apr-09 138000 140000 132290 134130 515882

15-Apr-09 135150 138200 130005 137080 777437

14-Apr-09 140910 140910 140910 140910 0

13-Apr-09 142600 146400 137805 140910 195998

10-Apr-09 142645 142645 142645 142645 0

9-Apr-09 143300 144700 139800 142645 187237

8-Apr-09 138500 142890 135645 142180 171175

7-Apr-09 141445 141445 141445 141445 0

6-Apr-09 142500 145700 127500 141445 266905

3-Apr-09 142040 142040 142040 142040 0

2-Apr-09 137900 143370 137000 142040 255154

1-Apr-09 132600 138400 130300 137550 128175

31-Mar-09 130600 134000 130005 132410 128741

30-Mar-09 133500 133500 128800 129785 138585

27-Mar-09 139800 139800 133000 134675 279514

26-Mar-09 134100 139470 134100 138065 420164

25-Mar-09 132000 134940 131000 133960 234164

24-Mar-09 134500 135930 131020 132295 185492

23-Mar-09 130000 134005 130000 133070 152103

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 29: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 29 -

20-Mar-09 129900 130000 128100 129735 150381

19-Mar-09 128400 131100 128235 129585 255483

18-Mar-09 127800 130170 126700 127745 203116

17-Mar-09 128000 128900 125750 126555 156103

16-Mar-09 130510 130510 126900 128825 179013

13-Mar-09 124200 130000 124200 129635 314600

12-Mar-09 121500 125370 121500 122715 251868

9-Mar-09 121600 121945 119100 119675 192632

6-Mar-09 117000 123800 116800 121920 276167

5-Mar-09 121350 121350 117615 118280 96822

4-Mar-09 120150 121550 118110 119790 251167

3-Mar-09 121490 121490 119035 119760 152120

2-Mar-09 121130 122900 119000 121875 179824

27-Feb-09 123600 123970 120235 123130 118667

26-Feb-09 121600 124000 120055 123635 193553

25-Feb-09 119020 122400 119020 121625 229412

24-Feb-09 116000 119105 114640 118410 122876

20-Feb-09 120000 120400 116340 117845 176964

19-Feb-09 118500 121300 117200 120820 220078

18-Feb-09 117000 118950 116100 117875 419019

17-Feb-09 120100 121785 116880 117765 245812

16-Feb-09 125500 126060 121505 122155 257359

13-Feb-09 126100 127500 124620 125470 145250

12-Feb-09 127100 129990 125200 125835 218725

11-Feb-09 130000 130500 127665 130255 181019

10-Feb-09 131500 132495 129270 130735 277234

9-Feb-09 129500 131500 128900 130985 279800

6-Feb-09 126000 129400 124700 128720 198522

5-Feb-09 128200 129100 123810 126000 257596

4-Feb-09 128240 130725 127900 128295 118204

3-Feb-09 128400 130000 126200 128240 119795

2-Feb-09 129300 129800 126705 127880 414598

30-Jan-09 130000 131200 128500 130550 253496

29-Jan-09 130000 131870 128850 130965 439900

28-Jan-09 125200 129610 125200 128520 160022

27-Jan-09 121900 126000 121900 125180 283833

23-Jan-09 122955 123505 119125 120395 527790

22-Jan-09 122320 123890 120325 122955 210851

Table 9

Monthly Report

Price Behavior From March09 ndash Aug 2009

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 30: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 30 -

Figure 1 During May 2009

Figure 2

1st June ndash 30

th June +1749 (1092)

Figure 3

1st July ndash 31

st July 2009 +287 (1615)

Resistance

Support

Resistance

Support

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 31: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 31 -

Figure 4

August 4 2009 ndash August 28 2009 + 12375 (6)

Figure 5

Difference between opening and closing

sl no Date Open Close Original Chang in

price

chang in price

1 28-Aug-09 218500 218765 265 0121281

2 27-Aug-09 218000 218975 975 0447248

3 26-Aug-09 210500 218135 7635 3627078

4 25-Aug-09 206800 209610 281 1358801

5 24-Aug-09 204100 207615 3515 1722195

Resistance

Support

Support

Resistance

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 32: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 32 -

6 21-Aug-09 199305 202850 3545 1778681

7 20-Aug-09 197040 199280 224 1136825

8 19-Aug-09 198500 195070 -343 -172796

9 18-Aug-09 197495 197140 -355 -017975

10 17-Aug-09 201500 198305 -3195 -158561

11 14-Aug-09 206000 203985 -2015 -097816

12 12-Aug-09 208000 204275 -3725 -179087

13 11-Aug-09 208500 208165 -335 -016067

14 10-Aug-09 205200 208680 348 1695906

15 7-Aug-09 202500 204190 169 0834568

16 6-Aug-09 209800 205460 -434 -206864

17 5-Aug-09 205055 209455 44 2145766

18 4-Aug-09 208025 204365 -366 -17594

19 31-Jul-09 203100 206390 329 1619892

20 30-Jul-09 198090 201040 295 1489222

21 29-Jul-09 198090 198375 285 0143874

22 28-Jul-09 204300 199475 -4825 -236172

23 27-Jul-09 200500 202530 203 1012469

24 24-Jul-09 198500 200335 1835 0924433

25 23-Jul-09 194700 195985 1285 065999

26 22-Jul-09 197200 191920 -528 -267748

27 21-Jul-09 202500 194310 -819 -404444

28 20-Jul-09 188000 197270 927 4930851

29 17-Jul-09 181700 186700 50 2751789

30 16-Jul-09 180000 179510 -49 -027222

31 15-Jul-09 181900 179095 -2805 -154206

32 14-Jul-09 178000 180635 2635 1480337

33 13-Jul-09 172000 176795 4795 2787791

34 10-Jul-09 163500 172650 915 559633

35 9-Jul-09 170800 167675 -3125 -182963

36 8-Jul-09 172500 170570 -193 -111884

37 7-Jul-09 177000 173920 -308 -174011

38 3-Jul-09 178000 180090 209 1174157

39 2-Jul-09 178500 179590 109 0610644

40 1-Jul-09 177680 179670 199 1119991

41 30-Jun-09 178505 177690 -815 -045657

42 29-Jun-09 182020 178375 -3645 -200253

43 26-Jun-09 177000 182675 5675 3206215

44 25-Jun-09 178000 175775 -2225 -125

45 24-Jun-09 175110 175915 805 0459711

46 23-Jun-09 169900 174605 4705 2769276

47 22-Jun-09 177500 176575 -925 -052113

48 19-Jun-09 172500 177110 461 2672464

49 18-Jun-09 171000 172145 1145 0669591

50 17-Jun-09 174000 171050 -295 -16954

51 16-Jun-09 170200 172415 2215 130141

52 15-Jun-09 172495 172035 -46 -026667

53 12-Jun-09 176600 172795 -3805 -215459

54 11-Jun-09 185400 175155 -10245 -552589

55 10-Jun-09 179000 180325 1325 0740223

56 9-Jun-09 172000 179555 7555 4392442

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 33: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 33 -

57 8-Jun-09 170000 173320 332 1952941

58 5-Jun-09 164480 169055 4575 2781493

59 4-Jun-09 165000 162700 -23 -139394

60 3-Jun-09 169900 164590 -531 -312537

61 2-Jun-09 168500 168230 -27 -016024

62 1-Jun-09 160500 167685 7185 4476636

63 29-May-09 160000 160200 2 0125

64 28-May-09 159900 157580 -232 -145091

65 27-May-09 162870 158460 -441 -270768

66 26-May-09 151500 154320 282 1861386

67 25-May-09 152000 150795 -1205 -079276

68 22-May-09 149900 151940 204 1360907

69 21-May-09 154000 150265 -3735 -242532

70 20-May-09 154700 153410 -129 -083387

71 19-May-09 181000 156375 -24625 -13605

72 18-May-09 175200 175020 -18 -010274

73 15-May-09 158000 159430 143 0905063

74 14-May-09 153995 156615 262 1701354

75 13-May-09 158800 157385 -1415 -089106

76 12-May-09 150000 159795 9795 653

77 11-May-09 152900 151450 -145 -094833

78 8-May-09 154200 152140 -206 -133593

79 7-May-09 157500 155470 -203 -128889

80 6-May-09 156800 156815 015 0009566

81 5-May-09 160200 158295 -1905 -118914

82 4-May-09 151500 162925 11425 7541254

83 1-May-09 150730 150730 0 0

84 30-Apr-09 150730 150730 0 0

85 29-Apr-09 144000 150730 673 4673611

86 28-Apr-09 141800 143155 1355 0955571

87 27-Apr-09 143000 143260 26 0181818

88 24-Apr-09 144000 144860 86 0597222

89 23-Apr-09 138000 144985 6985 5061594

90 22-Apr-09 137500 137935 435 0316364

91 21-Apr-09 138000 136350 -165 -119565

92 20-Apr-09 139400 139225 -175 -012554

93 17-Apr-09 136500 139310 281 2058608

94 16-Apr-09 138000 134130 -387 -280435

95 15-Apr-09 135150 137080 193 1428043

96 14-Apr-09 140910 140910 0 0

97 13-Apr-09 142600 140910 -169 -118513

98 10-Apr-09 142645 142645 0 0

99 9-Apr-09 143300 142645 -655 -045708

100 8-Apr-09 138500 142180 368 265704

101 7-Apr-09 141445 141445 0 0

102 6-Apr-09 142500 141445 -1055 -074035

103 3-Apr-09 142040 142040 0 0

104 2-Apr-09 137900 142040 414 3002175

105 1-Apr-09 132600 137550 495 3733032

106 31-Mar-09 130600 132410 181 1385911

107 30-Mar-09 133500 129785 -3715 -278277

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 34: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 34 -

108 27-Mar-09 139800 134675 -5125 -366595

109 26-Mar-09 134100 138065 3965 2956749

110 25-Mar-09 132000 133960 196 1484848

111 24-Mar-09 134500 132295 -2205 -163941

112 23-Mar-09 130000 133070 307 2361538

113 20-Mar-09 129900 129735 -165 -012702

114 19-Mar-09 128400 129585 1185 0922897

115 18-Mar-09 127800 127745 -055 -004304

116 17-Mar-09 128000 126555 -1445 -112891

117 16-Mar-09 130510 128825 -1685 -129109

118 13-Mar-09 124200 129635 5435 4376006

119 12-Mar-09 121500 122715 1215 1

120 9-Mar-09 121600 119675 -1925 -158306

Total 48715

Average

Table 10

Opening VS Closing

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 35: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 35 -

Opening and Closing

000

50000

100000

150000

200000

250000

28-A

ug-0

9

25-A

ug-0

9

20-A

ug-0

9

17-A

ug-0

9

11-A

ug-0

9

6-Aug

-09

31-J

ul-0

9

28-J

ul-0

9

23-J

ul-0

9

20-J

ul-0

9

15-J

ul-0

9

10-J

ul-0

9

7-Ju

l-09

1-Ju

l-09

26-J

un-0

9

23-J

un-0

9

18-J

un-0

9

15-J

un-0

9

10-J

un-0

9

5-Ju

n-09

2-Ju

n-09

28-M

ay-0

9

25-M

ay-0

9

20-M

ay-0

9

15-M

ay-0

9

12-M

ay-0

9

7-M

ay-0

9

4-M

ay-0

9

Date

Pri

ce Open

Close

Volume

0

200000

400000

600000

800000

1000000

1200000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce

Volume

Figure 6

Interpretation

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 36: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 36 -

On an average the difference between opening and closing price is Rs5 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

Open Vs High

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 37: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 37 -

Open Vs High

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce High

Open

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009612009

682009

6152009

6222009

6292009762009

7132009

7202009

7272009832009

8102009

8172009

8242009

Date

Price

Volume

Figure 7

On an average difference between opening and high is Rs 35 and the major change was 120on

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 VS Low

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 38: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 38 -

Opening Vs low

000

50000

100000

150000

200000

250000

54

2009

511

200

9

518

200

9

525

200

9

61

2009

68

2009

615

200

9

622

200

9

629

200

9

76

2009

713

200

9

720

200

9

727

200

9

83

2009

810

200

9

817

200

9

824

200

9

Date

Pri

ce Open

low

Volume

0

200000

400000

600000

800000

1000000

1200000

542009

5112009

5182009

5252009

612009

682009

6152009

6222009

6292009

762009

7132009

7202009

7272009

832009

8102009

8172009

8242009

Date

Price

Volume

Figure 8

Interpretation

On an average the Infosys technology goes low Rs35 however the highest difference (opening-

Closing) was Rs 255 on 19 may 2009 126 on 11th

June 9995 on 21 July but it may go low in

the range of 10-30

Sensex Vs Infosys

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 39: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 39 -

Sensex

Infosys

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 40: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 40 -

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 - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 41: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 41 -

Price ndash Volume Action

Good Price ndash 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 Thats 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 - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 42: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 42 -

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 - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 43: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 43 -

Figure 12

Figure 13

Interpretation

When the bands lie close together a period of low volatility in stock price is indicated When

they are far apart a period of high volatility in price is indicated When the bands have only a

slight slope and lie approximately parallel for an extended time the price of a stock will be found

to oscillate up and down between the bands as though in a channel

Mr Bollinger notes the following characteristics of Bollinger Bands

Sharp price changes tend to occur after the bands tighten as volatility lessens

When prices move outside the bands a continuation of the current trend is implied

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 44: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 44 -

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 ndash 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 securitys price over a period of time When calculating a moving average a mathematical analysis of the securitys average value over a predetermined time period is made As the securitys price changes its average price moves up or down

Figure 14

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 45: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 45 -

Figure 15

Interpretation

The most popular method of interpreting a moving average is to compare the relationship between a

moving average of the securitys price with the securitys price itself A buy signal is generated when the

securitys price rises above its moving average and a sell signal is generated when the securitys price

falls below its moving average

In this case looking at charts it can be say that one can buy the stock because price rise above

its moving average in both the chart

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 46: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 46 -

MACD Overview The MACD (Moving Average ConvergenceDivergence) 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 buysell opportunities (Appel specifies exponential moving averages as percentages as explained on page 170 Thus he refers to these three moving averages as 75 15 and 20 respectively)

Figure 16

MACD

Signal line

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 47: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 47 -

Interpretation

The MACD proves most effective in wide-swinging trading markets There are three

popular ways to use the MACD crossovers overboughtoversold and divergences

Since both the chart depict that MACD rise above its signal line a buy signal

occurs Means still one can buy this share However it is likely that the security

price is overextending and will soon return to more realistic levels Looking

closely at 1st chart in MACD is making new low in July while prices fails to reach

new low means a bearish divergence occurs which can be seen in the next month

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 48: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 48 -

Momentum

Overview

The Momentum indicator measures the amount that a securitys 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 - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 49: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 49 -

Moving average crossover (parameter 9 and 30)

Figure 18 (Parameter 20 50)

Figure 19

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 50: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 50 -

Interpretation

The most popular method of interpreting a single moving average is to compare

the relationship between moving averages of the securitys price with the securitys

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 - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 51: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 51 -

Infosys From 2000-2008

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 52: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 52 -

News and Analysis

Date Particular Source

28-Aug Narayana Murthys daughter to tie know on Aug 29 CIOL

A quite weding for IT Czars Daughter Deccan Herald

Akshatas Mehendi Over reception on Saturday Times Of India

27-Aug Govt may fail to keep its word to wipro Infosys Livemint

26-Aug Infy rise on BP relation

Market Intelligence Centre

BP Award Large Deal to infosys Technologies Ltd Reuters key Development

Infosys Tata sign Big deal with BP Advantage to tata Information week

IBM Indian outsourcers win services deal from BP Reuers

Infosys Gets ouder from BP Group Wall Street Journal

Sensex Closes UP 81 Pts Infosys Leads Financial Express

25-Aug Stock Open Higher Infosys SBI lead Financial Express

Indian Shares Fall 08 pct ICICI Infosys drop (HCL Jumped 6 0 Reuters key 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 paperInfosys launches Customer communication Mgm portal for E PR-canadanet

20 Augut

Stock to watch Sterlite Industries HDFCNMDC RECSun Pharma Jet Airwas Infosys Economics Times

20 Agust Intra-Day Sell Infosys ICICI Bank Athellip Sify

19-Aug Indian Shares fall 15 Pct led by reliance

Reuters key Development

19-Aug Narayana Murthy to join NPCI My news in

Murthy to join NPCI Board as non-exe chairman Mydigitalfccom

after Nilekani NRN to take up a government assignment MSN India (Domain-B

18-Aug Infosys looking for new billing modes to protect margins Economics Times

Infosys Pushing result-based sales model Daily news amp

analysis

Tough time to continue for another quarter or twoInfosys Hindu Business

Line

Infosys at the NASSCOM global engineering leadershi Summit 2009 Newswire Today

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR-USAnet

17-Aug InfosysCognizant among worlds 100 Fastest growing companies Economics Times

Infosysamong worlds 100 fastest growing Cos Press Trust of India

Infosysamong worlds 100 fastest growing Cos Sify

Infosys is the most admired Indian Compan WSJ survey Stock Watch

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 53: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 53 -

Infosys most admired Andhra Cafeacute

Infosys launches Communication Hub iTWire

Communication Portal Cuts Costs ITBrief

16-Aug Indian IT Outsourcers Face Cloud computing challenge Financial times

Infosys has bid for over 10 govt deals Financial express

Reuters

Indian tech company infosys to expand operation in NZ New Zealand

Herald

Indian ADRs loss $ 144 bn in one week

Fianancial ExpressEconomics

TimesSiffy

Six in top 10 Club add rs 28000 cr in mcap Press Trust of India

14-Aug Infosys posts growth but on track for drop in annual revene Smart brief

Infosys most admired Indian Company WSJ survey

Press Trust of India Economic TimesDeccan

Herald

Indian Shares fall 03 Pct Infosys drop Reuters financial

express

13-Aug Infosys Prevails as Storm Brews in Indias 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 EasyBoursecom

Infosys seeing revival signs Times Of india

12-Aug Indian shares slip 04 pct but buying reviving Reutes

11-Aug

Independent Research Firm Names Infosys Technologies as a leader in SAP Implementation PR Newswire

Infosys Named leader in SAP implementation EFY Times

Forrester Lauds Infosys as SAP leader CIOL

Infosys eyes Latin american acquisitionswins Bancoombia as client ISI-Emerging

Markets

Sensex slides sharply Nifty below 4500 India Infolinecom

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 Livecom

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 Siliconindiacom

Stand out from the IT jobs crowd - top tips from Infosys Computer

Weeklycom

Infosys Technologies (INFY) Bullish Technical Alert ndash Trend Up 651 comtex Smartrend

Sell Infosys ndash 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-Aug Infosys Inks Five-Year Deal with T-Mobile itVARnewsnet

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 54: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 54 -

7-Aug Infosys BPO wins T-Mobile UK contract

Trading Markets (press release)

6-Aug Infosys pursuing 12-15 deals in $1-b range

Hindu Business Line

Infosys Technologies (INFY) PriceWatch Alert For 862009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys signs strategic agreement with Bancolombia Thaindiancom

Infy deploys Finacle soln for Bancolombia bank CIOL

Colombian bank selects Infosys Finacle soln Indopia

Infosys signs five-year deal with T-Mobile UK Telecompaper

T-Mobile UK inks 5-year deal with Infosys BPO to outsource finance operations Wireless Fedration

5-Aug Infosys is pursuing $1-bn deals in this quarter Business Standard

July technology earnings highlights INFY INTC TXN AAPL MSFT Learning Markets

Infosys Technologies (INFY) PriceWatch Alert For 852009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

Indian Stocks Rise Erasing Earlier Losses Infosys Gains Bloomberg

Indias 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 Mydigitalfccom

Markets open higher Reliance Infra Infosys surge Sify

Sensex back to its winning ways Press Trust of India

Stocks open higher Reliance Infra Infosys surge Economics Times

Indian shares rise in early deals Reuters

4-Aug

Infosys Technologies (INFY) PriceWatch Alert With 618 Downside Protection

Market Intelligence Centre

Infosys Technologies (INFY) PriceWatch Alert For 842009 - Covered Call Risk Ranking Declines to 2 Keys

Market Intelligence Centre

Infosys Technologies Ltds Infosys BPO Inks Five Year Deal With T-Mobile UK-Business Standard

Reuters key Development

Indian shares fall 06 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 athellip 2115 Sify

3-Aug PREVIEW-Cognizant seen posting another solid quarter Reuters

Cognizant Techs June quarter results will cheer IT investors Livemint

Infosys gets CISF security cover Myiriscom

In Economic Cloud Infosys Sees a Green Lining Network Computing

FampO Outlook Expect profit booking Business Standard

2-Aug Infosys Wins Best Outsourcing Partner in the 2009 Waters Rankings

PR Web (press release)

31-Jul Infosys Technologies (INFY) PriceWatch Alert Support Down To $4141

Market Intelligence Centre

Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 621 comtex Smartrend

Infosys pays Rs 23-cr premium for Rs 10000-cr cover Sify

Govt support must to help IT achieve growth Infosys Economics Times

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 55: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 55 -

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 InternetNewscom

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 7312009 - Covered Call Risk Ranking Improves to 3 Keys

Market Intelligence Centre

SABMiller Selects Infosys Technologies EFY Times

Infosys to Improve SABMillers Marketing Campaigns CXOTodaycom

SABMiller Chooses Infosys Technologies Limited To Conduct In-Store Projects

Reuters key Development

Indian Outsourcing Moving Past Economic Turmoil With A Positive Quarter

Trading Markets (press release)

Infosys eyeing Tier-II cities for expansion Indopia

Infosys eyeing smaller cities for expansion Hindu Business

Line

Infosys eyeing Tier II cities like Mysore Kochi Madurai MSN India (Domain-B

Stocks turn negative ICICI Infosys drag Financial Express

BSE Sensex falls 07 pct ICICI Infosys drop Reuters India

Morning Sensex falls 07 ICICI Infosys drop

Infosys to bid for UID projects nobody to succeed Nilekani Trading Markets (press release)

Transparency to be maintained on inking UIAI deal Infosys Indopia

India tech stocks still a good play or overpriced Reuters

27-Jul Top VARs Vie For $1 Billion IT Contract With BP

Gerson Lehrman group

Infosys pips TCS Wipro in filing patents Sify

TCS Infosys Patni await clarity on ABN Amro outsourcing Economics Times

All change at ABN Computing

RBS yet to take a call on ABNs USD 500mn outsourcing contracts ISI-Emerging

Markets

Infosys Technologies (INFY) PriceWatch Alert Technicals Showing Bullish Market Intelligence

Centre

Recession TCS Infosys Wipro HCL bag large outsourcing deals Economics Times

Indian outsourcers using slump to get bigger ZDNet Asia

IT firms speed up patent filing Hindu Business

Line

26-Jul Indian ADRs gain $7 billion Infosys leads the pack

Hindu Economics times hindustan

Times

25-Jul

52-Week High Companies China Life Insurance Company Infosys Technologies Archer Daniels Midland Company Ford Motor Company The TJX Companies and Starbucks Corp GuruFocuscom

24-Jul

Tata Consultancy Services Ltd And Infosys Technologies Ltd Vie For $1 Billion BP Deal-Reuters

Reuters key Development

23-Jul Indias Outsourcers Using the Slump to Get Bigger Business Week

Indian outsourcers vie for $1 bln BP deal-report Reuters

Indian outsourcers vie for US$1b BP deal Business times

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 56: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 56 -

(Subscription)

IT has not reduced strategic investment Infosys Economics Times

IT industry hasnt reduced strategic investment Infosys Business Standard

No cost-cutting in critical areas Infy Times Of India

Indian shares rise 02 pct Maruti continues rally Reuters

22-Jul IT companies reconciling to pay more tax as STP exemption ends

Hindu Business Line

The tough get going Business Standard

Wipros Q1 performance pales vs TCS Infosys Economics Times

Infosys bags railways pilot project worth Rs4 Crore Siliconindiacom

Infosys Technologies Ltd Wins eBiz Project from Ministry of Commerce and Industry

Reuters key Development

21-Jul

Infosys move is obvious in providing cautious view due to market uncertainties

Gerson Lehrman group

Liquid funds may now fetch less for companies Economics Times

Indias Infosys wins 10-year contract from govt Reuters

Infosys Gets 10-Year Outsourcing Order From India Government Wall Street Journal

Infosys bags ten-year govt e-biz project Financial Express

Infosys Technologies Ltd Wins Ten Year Contract From Government-Reuters

Reuters key Development

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives Webnewswirecom

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-Jul IT firms spend more on RampD to offer new services

Hindu Business Line

Infosys Finacle bags two major deals Economics Times

Infosys Finacle signs two major deals Siliconindiacom

Infosys wins two major deals for direct banking solutions Itvoir

17-Jul Infosys Technologies (INFY) Bullish Technical Alert - Trend Up 444

Trading Markets (press release)

Indias Tata Consultancy Q1 net up sees uncertainty Alibaba News

Channel

16-Jul Heard on the Street Economics Times

Infy puts Rs 1500cr in liquid MFs Times of India

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives PR-canadanet

15-Jul Infosys BPO receives award for diversity hiring initiatives Consultant News

Amartya Sen to chair Infosys Foundation jury for social sciences Thaindiancom

14-Jul Nilekani IDing the masses may solve Indian identity crisis MSN India

Oracle and Infosys jointly develop distribution offering Trading Markets (press release)

KRChoksey recommends to buy Infy target of Rs1824 Siliconindiacom

Infosys Technologies nets $10-mn Intel pilot project Economics Times

Earnings Preview Q1FY10 Livemint

13-Jul Infosys Wipro get CISF cover Business Standard

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 57: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 57 -

Infosys Wipro to get CISF security cover Myiriscom

Infosys Q1 profit beats estimates Budapest Business

Journal

Sensex recovers partially led by Infosys ITC India Infolinecom

Infosys BPO Bags Excellence Award for Diversity Hiring Initiatives

Prdomain Business register (press

Release)

Infosys BPO bags award for diversity hiring initiatives Economics Times

Stocks to Watch TCS Wipro Infosys NTC RIL Gammon India Economics Times

12-Jul Domestic market key to revenue growth Economics Times

Result Review Infosys Technologies Livemint

After Finacle Infy back with new smaller products Mydigitalfccom

Infosys revenues from BT to shrink further Hindu Business

Line

Q1 Shock or surprise Mydigitalfccom

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

Infosys sees Q1 North America profits up 16 Business News

Americas

Top Day Trader Alert Stocks (CIT DELL WDC DDSS INFY ASML) 247 Wall St

Infosys BPO eyes acquisition in US Europe CIOL

Outsider may be the next chairman of Infosys Murthy Zee News

9-Jul Outsider may be the next chairman of Infosys Murthy Reuter key

development

Infosys looks to outbid rivals for UBS unit buy Economics Times

Inflation Declines in India Infosys Earnings 123 Jumpcom

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 Mydigitalfccom

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) amp Euro Currency Trust (FXE) The Option Insider

Infosys (INFY) July volatility at 64 into EPS and outlook StreetInsidercom

Choppy Indian shares end flat Infosys ICICI fall Reuters

6-Jul Infosys faces bearish trade Option Monster

Research

Infosys Technologies Sets 1Q Earnings Release Date Trading Markets (press release)

1-Jul To survive IT sector will have to innovate Livemint

Infosys Technologies to declare Q1 results on July 10 2009 Equity Bulls

Stocks to watch GMR Infra SBI Reliance Power TCS Wipro Infosys United Spirits DLF Ispat HCL Tech Economics Times

30-Jun Infosys reverberates at TCS annual meeting

Daily news amp analysis

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 58: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 58 -

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 Infolinecom

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 Myiriscom

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-Jun

UBS AG Said To Be Looking At Sale Of Outsourcing Units To Indian IT Companies Including Infosys Technologies Limited-DJ

Reuters key Development

Infosys Cuts Carbon Footprint By 5 India Journal

Direct banking solution from Infosys Hindu

Infosys seeks nod for fresh issue of ADR India Infolinecom

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 Ltds Infosys BPO Ltd Gets Three Year $10 Million Order From Microsoft-DJ

Reuters key Development

UBS in talks with Infosys Wipro for sale of BPO KPO units Economics Times

15-Jun Infosys eyes buys in Mexico Brazil to improve operations

Hindu Business Line

Alberto Culver Company Bolsters Trade Promotion Efficacy With Infosys Technologies Business wire

Infosys Technologies Introduces iTransformtrade Product Suite One of Industrys 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 Mydigitalfccom

Infosys hopes huge business from Latin America Trading Markets (press release)

Avi Infosys Dubai receives ISO 90012008 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

Infosys explores new engagement models Computer Business

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 123Jumpscom

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

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 59: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 59 -

7-Jun Infosys Technologies Ltd Plans To Set Up Unit In Brazil-DJ

Reuters key 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 FY09 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 FY09 Infosys top exporter Economics Times

2-Jun Infosys invests Rs 63 crore in overseas subsidiaries Mydigitalfccom

Infosys invests Rs 63-cr in loss-making subsidiaries Zee News

News Date and Impact

News Date

Open high low Close Volume open-close

high-open

open-low

28-Aug-09 218500 219900 214250 218765 135164 -265

1400 4250

27-Aug-09 218000 220270 212120 218975 196202 -975

2270 5880

26-Aug-09 210500 218800 209800 218135 254324 -7635

8300 700

25-Aug-09 206800 210400 204100 209610 151542 -2810

3600 2700

24-Aug-09 204100 208240 204100 207615 115593 -3515

4140 000

23-Aug-09 000

000 000

20-Aug-09 197040 199500 195505 199280 219033 -2240

2460 1535

19-Aug-09 198500 198800 193600 195070 150657 3430

300 4900

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 60: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 60 -

18-Aug-09 197495 199900 195700 197140 145082 355

2405 1795

17-Aug-09 201500 201870 197125 198305 105485 3195

370 4375

16-Aug-09 000

000 000

14-Aug-09 206000 206400 202605 203985 63697 2015

400 3395

13-Aug-09 000

000 000

12-Aug-09 208000 208000 200000 204275 70493 3725

000 8000

11-Aug-09 208500 210900 205500 208165 123870 335

2400 3000

10-Aug-09 205200 211300 205005 208680 225757 -3480

6100 195

9-Aug-09 000

000 000

8-Aug-09 000

000 000

7-Aug-09 202500 205600 201500 204190 79732 -1690

3100 1000

6-Aug-09 209800 210000 204000 205460 105279 4340

200 5800

5-Aug-09 205055 210500 205055 209455 163504 -4400

5445 000

4-Aug-09 208025 210000 202200 204365 108625 3660

1975 5825

3-Au 000

000 000

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 61: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 61 -

g-09

2-Aug-09 000

000 000

31-Jul-09 203100 207695 202110 206390 301664 -3290

4595 990

30-Jul-09 198090 201870 198090 201040 274570 -2950

3780 000

29-Jul-09 198090 199770 195000 198375 106921 -285

1680 3090

28-Jul-09 204300 204300 196825 199475 128343 4825

000 7475

27-Jul-09 200500 204390 199630 202530 143672 -2030

3890 870

26-Jul-09 000

000 000

25-Jul-09 000

000 000

24-Jul-09 198500 201100 198235 200335 213339 -1835

2600 265

23-Jul-09 194700 197600 193500 195985 968738 -1285

2900 1200

22-Jul-09 197200 197200 189500 191920 201311 5280

000 7700

21-Jul-09 202500 202500 192505 194310 121109 8190

000 9995

20-Jul-09 188000 199400 187010 197270 568944 -9270

11400 990

19-Jul-09 000

000 000

17-Jul-09 181700 187300 180100 186700 241070 -5000

5600 1600

16-Jul-09 180000 182000 177080 179510 215929 490

2000 2920

15-Jul-09 181900 181900 175920 179095 196349 2805

000 5980

14-Jul-09 178000 181440 175110 180635 210388 -2635

3440 2890

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 62: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 62 -

13-Jul-09 172000 177445 171000 176795 205279 -4795

5445 1000

12-Jul-09 000

000 000

11-Jul-09 000

000 000

10-Jul-09 163500 176700 163500 172650 596974 -9150

13200 000

9-Jul-09 170800 171200 167000 167675 201347 3125

400 3800

8-Jul-09 172500 173300 168800 170570 225767 1930

800 3700

7-Jul-09 177000 177500 172600 173920 144282 3080

500 4400

6-Jul-09 000

000 000

1-Jul-09 177680 181290 177105 179670 99230 -1990

3610 575

30-Jun-09 178505 179900 176000 177690 115372 815

1395 2505

29-Jun-09 182020 183000 177255 178375 136266 3645

980 4765

28-Jun-09 000

000 000

26-Jun-09 177000 183870 175235 182675 216841 -5675

6870 1765

25-Jun-09 178000 179770 174605 175775 97423 2225

1770 3395

23-Jun-09 169900 177000 169900 174605 178176 -4705

7100 000

20-Jun-09 000

000 000

19-Jun- 172500 178500 172000 177110 147777 -4610

6000 500

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 63: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 63 -

09

18-Jun-09 171000 176000 169400 172145 166085 -1145

5000 1600

15-Jun-09 172495 177500 169000 172035 143796 460

5005 3495

14-Jun-09 000

000 000

11-Jun-09 185400 185400 172715 175155 146476 10245

000 12685

10-Jun-09 179000 183600 176205 180325 289306 -1325

4600 2795

9-Jun-09 172000 180000 172000 179555 226449 -7555

8000 000

8-Jun-09 170000 174500 168100 173320 233892 -3320

4500 1900

7-Jun-09 000

000 000

6-Jun-09 000

000 000

5-Jun-09 164480 170500 163330 169055 217181 -4575

6020 1150

3-Jun-09 169900 170500 162200 164590 185019 5310

600 7700

Table 11

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 64: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 64 -

Block Deals

Date Type Company Quantity Price

25-Jun-

09 Buy

BARCLAYS GLOBAL INVESTOR NA ISHARES BSE SENSEX

MAURITIUS CO 334554 1775

25-Jun-

09 Sell

CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL

CODE 334554 1775

10-Jan-

08 Buy ABN AMRO BANK N V LONDON BRANCH 356000 1660

10-Jan-

08 Sell JF ASSET MANAGEMENT FII 356000 1660

Table 12 Option Price

Expiry Date Type Strike Price Quantity LTP Last Traded

24 Sep 09 Call 219000 32000 7600 28 Aug 09 1557

24 Sep 09 Put 210000 22800 4200 28 Aug 09 1500

24 Sep 09 Call 225000 15000 5050 28 Aug 09 1534

24 Sep 09 Put 219000 12400 7480 28 Aug 09 1535

24 Sep 09 Call 228000 11000 3875 28 Aug 09 1534

24 Sep 09 Call 216000 9000 9600 28 Aug 09 1553

24 Sep 09 Put 216000 7800 6390 28 Aug 09 1553

24 Sep 09 Put 201000 6000 2285 28 Aug 09 1559

29 Oct 09 Call 228000 5600 8855 28 Aug 09 1534

24 Sep 09 Call 222000 5200 6500 28 Aug 09 1534

24 Sep 09 Put 189000 4600 600 28 Aug 09 1554

24 Sep 09 Put 204000 4200 2100 28 Aug 09 1559

24 Sep 09 Put 207000 3600 2710 28 Aug 09 1559

24 Sep 09 Call 213000 1600 9500 28 Aug 09 1534

24 Sep 09 Put 198000 1600 1450 28 Aug 09 1532

24 Sep 09 Put 213000 1400 4800 28 Aug 09 1534

24 Sep 09 Put 189000 400 1100 26 Aug 09 1400

24 Sep 09 Put 192000 400 1355 26 Aug 09 1525

29 Oct 09 Put 216000 400 13120 28 Aug 09 1556

29 Oct 09 Call 216000 200 12800 28 Aug 09 1439

Table 13

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 65: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 65 -

Figure 20

Finding

SUPPORT AND RESISTANCE LEVEL FOR 2nd

and 3rd

WEEK OF

September ldquoLooking 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 Septemberrdquo

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 - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3

Page 66: Technical Analysis of Infosys Technology by Bipul Kumar

AIT-School Of Management Greater Noida - 66 -

BIBLIOGRAPHY

1 ldquoSecurity Analysis and Portfolio Managementrdquo By ldquoPandian Punithavathyrdquo

2 ldquoInvestment Analysis and Portfolio Managementrdquo By ldquoRanganatham M

and ldquoMadhumathi Rrdquo

3