Infosys Q1 result will decide market direction: Vishwas Agarwal

As expected, the Sensex touched 15,000 levels before July 9; going forward the first quarter events will be a big event for the market, particularly the Infosys Technologies, which planned to declare their first quarter next week that will determine market direction, said technical analyst, Vishwas Agarwal.

Currently the market is in comfortable zone without any higher expectation after reaching 15,000 levels and shows balanced long position.

On Friday, good movement was observed in technology stocks. Agarwal has given some levels for trading for IT majors like Infosys Technology Rs 1,975, Wipro Rs 525, Satyam Computer Rs 475 and TCS Rs 1,165. Above these levels, the shares are in stronger zone and advice traders to trade accordingly.

One should catch important basic support levels for Nifty 4,286, Reliance Industries Rs 1665 and State Bank of India Rs 1,525 to determine the market mood.

Disclaimer Clause: These recommendations are on a technical basis and myiris.com and the technical analyst are not responsible for any losses suffered. The analyst has no open positions in the above-recommended stocks. Such reports shall only be taken as a source of information.