Infosys (₹1,958)
The stock of Infosys took support at ₹1,911 and bounced back about 1 per cent. Although the stock can move up further to test ₹2,000 this week, the short-term outlook remains unclear. The weekly chart reflects indecisiveness and there is a strong likelihood of range-bound movements between ₹1,900 and ₹2,000 for some time. A breakout on either side of these levels will decide the next leg of moves for the stock. Having said that, short-term traders can remain on the sidelines until a clear signal emerges. A break above ₹2,000 can take the Infosys stock higher to ₹2,050 and ₹2,100. On the other hand, a break below ₹1,900 can take it lower to ₹1,830. The medium-term downtrend remains intact and there is possibility of a fall to ₹1,800.
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.