INFOSYS LTD
SECTOR: -- I.T Services & Consulting.
All-Time High:--1953.90 made on 17.1.2022.
All-Time Low: -- .71 made in 1995.
Recent Low:-1185.30 made on 17.4.2023.
Open-1495--High-1505--Low-1489.35—Close-1493.95 on 13.6.2024.
Support:1488/1486/1468/1446.80/1427/1410/1403/1378/1366.65/1358/1353/1351/1311/1305/1263/1185.30.
Resistance:1518.25/1539/1542.90/1576/1593/1619.75/1635/1655--1665/1672.60/1687/1711/1733/1788/1808/1848/1914/1923/1953.90.
(Bold and underlined figures are most important)
Technically it is on a weak footing and in the deep correction mode now, but it seems that it is consolidating here. However moving down from here it has very strong support range of 1446.80----1366.80-----1340 and as of now it seem to be the worst price range for the stock, but sustained break below 1340 can drag it down to 1185 and break below it can pull it down to the range of 975---800. Similarly moving up it will face stiff resistance at 1539---1542.90---1619.75---1655---1665----1800, please note that if it moves above 1539 & 1542.90 and sustain on the closing basis then it will get some strength for the up move to extend, sustained break above 1619.75 on the closing basis will strengthen the up move further and finally sustained close above the range of 1655—1665 will put it back of the up momentum track and finally sustained close above 1800 will somewhat ensure that it could retest its all-time high of 1953.60 or may go beyond it also. Please note that sustained close above 1953.60 can take it up to much higher levels and then the upside target could be 2160---2247---2339---2428---2721---2945.
POSSIBLE BUYING OR
ACCUMULATION RANGE:-
1. 1446---1350. (It
seems that it is not likely to move below this range as of now)
2. 1295---1185.
3. 975----800.
NOTE:--ONE CAN BUY
TOKEN QUANTITY AT CMP ALSO. IT IS NOT A TRADING STOCK NOW.
REMARKS: - I once again repeat that it is not a trading stock now but investor
with a time horizon of 18-24 months can accumulate the stock on decline in a
staggered manner. It is expected to fetch you a return of 40—50% or more.
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision.
Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.
Kindly note that make your cost your stop loss
in favorable trade and then trail it as the price move up/down
to gain maximum profit and avoid losses. Use support and resistance levels as
entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT
STOP LOSS.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.