Technical Analysis

Immediate outlook for Infosys is unclear

Gurumurthy K | Updated on January 23, 2018 Published on May 10, 2015


Infosys (₹1,958)

The stock of Infosys took support at ₹1,911 and bounced back about 1 per cent. Although the stock can move up further to test ₹2,000 this week, the short-term outlook remains unclear. The weekly chart reflects indecisiveness and there is a strong likelihood of range-bound movements between ₹1,900 and ₹2,000 for some time. A breakout on either side of these levels will decide the next leg of moves for the stock. Having said that, short-term traders can remain on the sidelines until a clear signal emerges. A break above ₹2,000 can take the Infosys stock higher to ₹2,050 and ₹2,100. On the other hand, a break below ₹1,900 can take it lower to ₹1,830. The medium-term downtrend remains intact and there is possibility of a fall to ₹1,800.

Published on May 10, 2015

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