INFOSYS LTD
Open—1260--High---1305.40---Low—1259.80--Close---1300.80 on 2.4.2026.
All-Time High:-2006.45 made on 13.12.2024
Recent Low:-1185.30 made on 17.4.2023.
The overall technical setup is very weak and it is already into
bear market territory as it is below its threshold point of 1605.16, so it is likely to go down
further in the coming days. Furthermore it has Head & Shoulder pattern and
the neckline is at 1185.30 and if it
breaks it and sustain below on the closing basis then it may witness an
accelerated fall. But in the last few days it seems that the fall has been
arrested for a while and it may stage an up-move from here but further fall
cannot be ruled out in coming days because overall setup is weak. Moving down
its important support range could be as follows:-
1.1262.25----1244---1215.10----1185.30--break
& sustained close below 1185.30 may witness an accelerated fall.
2. 1130-- break &
sustained close below it can drag it down to 912 levels or lower.
3. 912---809—worst price range as of now.
Similarly the following points are termed as make or break
bottom and are supposed to be a strong support or resistance points:-
1.1718. ---------IT IS
BELOW IT NOW.
2.1605.16---=--IT IS BELOW
BEAR MARKET THRESHOLD POINT NOW.
3.1351.65-------IT IS
BELOW IT NOW.
4.1262.25.
5.1185.30----VERY
CRITICAL SUPPORT POINT—break below it can drag it down
sharply.
6.1051.10.
7.912.10.
8.809.
9.509.25.
It is suggested to buy in a staggered manner only once it gives visible indication that the fall is arrested or downside may be limited and if it holds any of the support points or range as mentioned above for some time then start buying with a strict stop losses. Please note that 1185.30 is a very critical support point and break & sustained close below it may witness an accelerated fall and as of now the overall technical setup indicates that if it remains below 1350.50 then it is likely to break this point in coming days, so watch out but as now it seem that it has taken pause from fall at this point of time. But it is suggested not to hurry for buying because overall market condition is very fluid and sentiments are at the lowest at this point of time.
It is important to
mention here that you can get good companies stock cheaper only when the technical
parameters are weak, therefore for investor those who are slight risk taker and
have patience and can hold the stock for 3-5 years time period should only buy in
a staggered manner with the help of above observation for good or handsome
return. Similarly for the risk-averse investor one should only buy when it
gives distinct indication of bottoming out and consistently start moving up,
but in this case one will get the stock at a higher price.
REMARKS;-In view of the above observation for aggressive traders &
short term investor’s one can buy near or within the range of 1262—1244 and
then in the range of 1215---1185 with a stop loss of 1230 & 1165 respectively or can buy if
it moves above 1307 and sustain on the
closing basis then with a stop loss of 1285 and for long term investors one should structure their buying as
suggested above.
FOR SHORT TERM TRADERS
OR INVESTORS.
S.N BUYING RANGE OR POINT
STOP—LOSS
REMARKS
1. 1262----1244 1230 FOR AGGRESSIVE TRADER/INVESTOR.
2. 1215---1185 1165 FOR SLIGHTLY SAFE TRADER/INVESTOR.
3. IF SUSTAINS ABOVE 1307 1285 FOR
REASONABLY SAFE TRADER/INVESTOR.
4. IF SUSTAINS ABOVE 1335 1320 FOR AGGRESSIVE TRADER.
FOR LONG
TERM INVESTORS
Initiate
token buying near 1185 and then if it breaks it then add on near 1130, 1050, 912--810
in a staggered manner and buy only half of the targeted quantity and buy rest
of the quantity only once it moves above 1185.30 again and sustain on the
closing basis with a stop loss of 1140.
IMPORTANT: DO NOT TRADE OR
INVEST WITHOUT STOP LOSS.
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:- I am not a SEBI registered technical
analyst. The view expressed here are solely of the author and purely for the
academic and educational purpose. This is in no way a trading or investment
advice.
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.
