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Infosys Ltd

Stock is trading in higher top higher bottom formation and it has recently taken support at lower band of upward sloping channel in the form of short term consolidation which spanned for 3 months. Recent price action is building positive momentum which can be evident from momentum indicator “Relative Strength Index” (RSI) sustaining above 60 levels. Which indicates that stock is likely to gain further strength once it sustains above immediate resistance of 1850 levels.

In the coming few weeks stock is likely to reach upper band of the rising channel near 2050 levels. Hence, it is recommended to Buy at current market price or on dip near 1750 level, keeping Stop loss at 1640 level and Target at 2050 level.

Buy : Infosys Ltd CMP: 1795 SL: 1640 TARGET :- 2050 TIMEFRAME: 4-6 WEEKS

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