Comments
Infosys (₹1,038.1)
Infosys was range-bound between ₹1,024 and ₹1,050 last week. Though the weekly candles suggest a mixed outlook, the 21-day moving average at ₹1,044 limiting the stock’s upmove is significant. Inability to breach this hurdle will keep the stock in a sideways range for some more time. Key support is at ₹1,024. A strong break below it can take it lower to ₹1,010. Further break below ₹1,010 may drag it to ₹990 thereafter. Such a fall will keep the overall downtrend intact and Infosys can test the 200-week moving average support at ₹936. On the other hand, if the stock manages to break above ₹1,044 decisively, it can rise to ₹1,060 initially. Further break above ₹1,060 can take the stock higher to ₹1,070 or ₹1,075 thereafter. The level of ₹1,075 is a key short-term resistance which has to be broken to target ₹1,095. Inability to break above ₹1,075 and a subsequent reversal from there may trigger a fall to ₹1,045 or lower levels once again.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.