Technical Analysis

Infosys in a strong up-move

Yoganand D | Updated on January 23, 2018 Published on May 24, 2015


Infosys (₹2041.8)

Infosys surged 4.2 per cent moving out of the band between ₹1,900 and ₹2,000 last week. The stock has also moved slightly above its 200-day moving average. The oscillators on the daily chart are trending northwards, backing the stock’s upmove. Traders with a short-term perspective can buy the stock with a stop-loss at ₹1,950 levels. A positive start in the week ahead can extend the stock’s bullish momentum and push it higher to ₹2,150 and ₹2,250 levels. Investors with a medium-term view can also buy the stock with a deep stop-loss at ₹1,900. A strong rally beyond ₹2,250 can take the stock higher to ₹2,350 in the medium term. On the other hand, a conclusive fall below the significant support level of ₹1,900 will bring back bearish momentum and pull the stock down to ₹1,800 or ₹1,700 in the medium term.

Published on May 24, 2015

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