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Infosys (₹2012.1)
The stock’s 200-day moving average as well as a resistance at ₹2,050 levels kept the stock in check in the week ago. After testing this resistance, it fell marginally for the week. An emphatic breach of the immediate resistance level of ₹2,050 will have bullish implications and push the stock upwards to ₹2,150 and ₹2,250. Traders with a short-term view can hold their long position and initiate fresh longs with a stop-loss at ₹1,950. Investors with a medium-term perspective can also buy the stock with a deep stop-loss at ₹1,900. Further rally above ₹2,250 levels can take the stock upwards to ₹2,350. Conversely, if the stock breaks through the immediate support level of ₹1,900, it will have bearish implications. In that case, the stock can slide to ₹1,800 or ₹1,700 in the medium term.
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