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Infosys (₹2,284.3)
In the week ago, the stock was volatile, testing the key resistance at ₹2,300 levels and closed on a marginally negative note. While the stock is in an uptrend across all time frames, indicators in the daily chart have started to weaken. As the stock is testing key resistance and reversing down, traders with a short-term perspective can consider taking partial profits off the table now. A decline can find support at ₹2,200 or ₹2,100 levels. As long as the stock trades above ₹2,100, its short-term uptrend will remain in place. A strong break of ₹2,300 can pave the way for an up move to ₹2,400 and ₹2,500 in the medium term. Investors with a medium-term horizon can hold the stock with a stop-loss at ₹1,850 levels. Supports below ₹2100 are at ₹2,020 and ₹1,900. Medium-term uptrend will be in place as long as the stock trades above ₹1,900.
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