Infosys Announces Q3 Results(Lower than Expected): On a Standalone basis, the Company posted a net profit of Rs 16410 Mln while the Total Income increased to Rs 68090 Mln. On a consolidated basis, the Revenue growth was almost flattish in the current quarter when compared sequentially which was modestly lower than the streets estimates. The company has topped its own estimates but the out performance of the IT companies during the past 2 quarters upped the streets expectations w.r.t. the financial growth both in terms of Rupee and Dollar revenues.

The 6200 calls continue to witness writing. The 6000-6200 zone should be difficulty to get now looking at the data. Lots of put buying has been seen. There is no specific floor as of now ever since the 6000 level was broken.
The PCR ratio was at 0.85 v/s 0.75, which signifies bearish sentiment and I.V’s were between the levels of 21%-23%.
ALOK, BATAIND & ABGSHIP has seen long build up in trade.
PRAJIND, SUZLON, RENUKA & ORCHIDCHEM saw short covering in trade.
IOC, JETAIRWAYS, BAJAJ AUTO & LT saw shorts getting piled.

No major counters saw long unwinding in trade.  Yesterday all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) ended in green. Dow was up by 0.72% and closed at 11755; S&P 500 was up by 0.90% at 1286. European indices ended in green too with FTSE up by 0.61%, DAX was up by 1.83% & CAC 40 was up by 2.15%. Today major stock markets in Asia are trading in green. Shanghai Composite is up by 0.11% at 2825 and Hang Seng is up by 0.82% at 24324. Japan’s Nikkei is up by 0.64% at 10581 and Singapore’s Straits Times is up by 0.21% at 3252.

The market closed below the bottom fibonacci fan line. Prices could really fall out now. Support level of   6030. was broken today. When the monthly pivot point is broken  the wave 2 is not seems to complete here. but if it sustain the 5879 then it show some short term strength, on basic chart also the price is near to double bottom formation, here not a clear view for this week but the range of nifty can be 6080-5739. if the index show some weak sign again of the last days of the week then the possible target will be more down side of last bottom (5740).

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