Chart Idea – Infosys Ltd.
Infosys ltd looks bullish from the lower levels, as stock has formed a Bullish Marubozu candle pattern on the chart.
Odds are in favor of bulls and intraday to weekly bias remains bullish on the stocks as long as the 1200 level remains intact on a closing basis.
The MACD indicator is also favoring the bulls. RSI has arrived into overbought so some correction is also expected overbought so some correction is also expected
Based on the chart and study above we would suggest that traders may go for buy in Infosys at 1120 for a target of 1200 and 1250 level with a strict stop loss of 1085 level on a closing basis.
We are a SEBI registered investment advisor. The above free information is for education/knowledge purposes. Read disclaimer on our website before investing.