Infosys Stands at a crucial juncture wherein it has broken out of its trend line, and is testing another trend line stretched through from the 5th of March. A good supply zone sits at it's current level with a good demand zone somewhere around 653 levels.
After its recent upmove which also broke the channel which it was creating on a daily time frame, the price is back into the channel showing a phase of consistent consolidation. Any move away from the channel will be a crucial and a strong move.
The markets are looking weak with negative sentiments and inconsistent absorption of results. People are looking for the silver lining but it isnt visible just yet.
The stock should be looking for a move in the coming days. It did have a range today but ended almost within the opening levels which shows an area of indecision.
Any breach of the trend lines might give a good momentum trade.
After its recent upmove which also broke the channel which it was creating on a daily time frame, the price is back into the channel showing a phase of consistent consolidation. Any move away from the channel will be a crucial and a strong move.
The markets are looking weak with negative sentiments and inconsistent absorption of results. People are looking for the silver lining but it isnt visible just yet.
The stock should be looking for a move in the coming days. It did have a range today but ended almost within the opening levels which shows an area of indecision.
Any breach of the trend lines might give a good momentum trade.