Infosys, a market leader, has lagged in the recent rally of Nifty and Sensex.
Once an esteemed blue-chip of the stock market has lost its allure for investors, but the technical chart structure indicates...
Bullish Breakout Patterns on P&F Chart:
The P&F 0.25% X 3 chart for Infosys reveals the presence of multiple bullish breakout patterns. These patterns indicate a strong upward momentum in the stock price and suggest the potential for further gains. Traders may consider these breakout patterns as positive signals, indicating a bullish trend in the stock.
The Bar Chart - Gap and Resistance Zone:
The major hurdle at the gap area of Rs.1,365 and the resistance zone at Rs.1,400 levels may act as significant barriers to the stock's upward movement.
If the stock manages to overcome this hurdle successfully, it could signify a robust breakout and reinforce the bullish sentiment surrounding Infosys.
A weekly close above Rs.1,412 holds considerable significance for the stock confirming a potential bottom formation and suggesting an upward reversal.
Can Infosys be the Next Reliance for Nifty50's rally towards 20,000?
The bulls have made a strong comeback in the IT sector.
The charts show a breakout for Infosys, indicating a significant upward movement in its stock price.
As the bulls continue to dominate the IT sector, it will be interesting to see how Infosys capitalizes on this momentum.