Infosys, Tech M: Tech charts suggest its time to bottom fish IT stocks

The NSE IT index has been moving in a tight range, a breakout in either direcion can trigger a 2,000 points movement.

NIFTY IT INDEX
Outlook: Trading tightly between key moving averages

The Nifty IT index trades in a tight band of 100-day moving average (DMA) and 200-DMA, placed at 34,496 and 33,048 respectively. Likewise, the Relative Strength Index (RSI) trades sideways in the value of 45 to 39.  Either side breakout in Nifty IT could see an absolute rally of over 2,000 points. CLICK HERE FOR THE CHART

Infosys Ltd (INFY)
Likely target: Rs 1,800
Upside potential: 5%

Although, Infosys failed to overcome the obstacle of the Rs 1,800 level, its 50-DMA, the