Buy Infosys (BSE: 500209)

Short-term sentiment: Bullish

Share price of Infosys Technologies Ltd, India’s second-largest software services exporter has been increasing steadily after it agreed to buy a British technology consultancy Axon Group Plc for 407 million pounds ($753 million).

Technical chart pattern also pointing short-term bullish trend, reasons are as follows

• Price is trading above EMA (50) and EMA (20)
• RSI (14) is 53 which indicates strong strength
• MACD (26.12) cross over is about to happen mostly in 2/3 trading days

If you think this stock won’t fall much to down side, then it could be a good time to buy Infosys at Rs.1700 with stop/loss just below Rs.1675 with target Rs. 1800