Infosys - trade idea/strategy

Planning to short Infy on Monday trade 5-Aug-13, If  Intraday RSI level shows over brought condition.

Scrip Name: INFY CMP :3008.8	Comment
Trade Check List
5 & 14 day RSI Value	95 & 81
Momentum	107
Support Level	2964.4, 2986.60
Resistance Level	3025.5, 3042.2
Action	Short Sell

Traget: 2900 Stop Loss: 3053.

This the trade set up I've witnessed in ITC on 25-July and Sun pharma on 1-Aug.

Scrip	% Change from peak
ITC	(-10.4)
Sun Pharma	(-4)

* Odds favoring trade

1. Relative strength indicates extremely over bought condition 
2. Sign of down trend in momentum as chart indicates

* Odds against trade 

1. INR value is depreciating against USD
2. Good Q1 results from peer companies

Chart