Infosys (Infy)

From the week starting 18 April 2022 till the week starting on 10 April 2023, the stock was hovering between the price channel of 1650 and 1354.

It took a gap down for the price to slide below that channel. Post the gap down (17th April 2023), the price has subsequently recovered to form a base inside the previous channel zone.

Positive above 1520 for a positional trade.

Resistance at 1650-1720 as this zone needs to be filled. Post which, we can see strength in upward momentum.

Cautious below 1355.

Trade with a strict stop loss of 5-8%.

Not a buy/sell recommendation. Please consult your advisor.