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Infosys (₹2,294.8)
Infosys inched marginally higher after a volatile trade last week. The stock however continues to languish around the key resistance level of ₹2,300. It is in an uptrend across all time frames. To sustain this uptrend, the stock needs to emphatically break the current resistance level to move higher to ₹2,400 and ₹2,500 levels in the medium term,. Traders should keep vigil and enter only on a decisive break-out of the key resistance level, with a stop-loss at ₹2,250 levels. Conversely, a conclusive fall below ₹2,200 can drag the stock down to the next base level of ₹2,100 levels. The short-term uptrend will be under threat if the stock decisively breaks the ₹2,100 level. In such a scenario, the stock can decline further to ₹2,000 or even to ₹1,900 in the medium term. Investors with a medium-term horizon can hold the stock with a stop-loss at ₹1,850 levels.
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