Comments
Last week, Infosys fell 3.3 per cent, resuming the near-term downtrend. The stock now tests a crucial support level at ₹1,100. The indicators such as price rate of change and moving average convergence divergence feature in the negative terrain, implying bearishness. A weak start will drag the stock further down to the medium-term trend-deciding support level of ₹1,060. Key supports below ₹1,060 are placed at ₹1,030 and ₹1,000. Traders can short the stock while maintaining a stop-loss at ₹1,120 levels. On the upside, a reversal from current levels can take it higher to the medium-term resistance band between ₹1,170 and ₹1,180 levels with a halt at ₹1,150 levels. Only a decisive breakthrough of ₹1,180 can take the stock higher to ₹1,200 and then to ₹1,220.
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.