Analysis of INFOSYS LTD (INFY) Chart (4-hour timeframe)

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Analysis of INFOSYS LTD (INFY) Chart (4-hour timeframe)
Price Movement:

The stock is currently trading at ₹1,908.70, showing a slight decrease of ₹1.70 (-0.09%).
A sharp downward movement can be observed, with a significant drop of ₹75.15 (-3.84%), followed by a recovery attempt of ₹63.00 (3.30%).
Recent Drop and Recovery:

After a significant drop of ₹75.15, the stock has shown a rebound, rising by ₹63.00.
This suggests a potential recovery, but traders should be cautious about the next few candles to confirm the strength of the upward trend.
Cumulative Volume Delta (CVD):

The CVD indicator below the price chart shows a slight positive value, indicating a mix of buying and selling pressure.
The CVD bars reflect increased buying interest, which aligns with the recent recovery in price.
Support and Resistance Levels:

Support can be identified near ₹1,867, which was the lowest point during the sharp decline.
Resistance could be faced around the ₹1,950 - ₹1,970 levels, as the stock previously faced selling pressure in this region.
Conclusion:

INFOSYS has experienced a significant price fluctuation, with a sharp drop followed by an attempt to recover.
The buying pressure seen in the CVD suggests that there is optimism among buyers, but caution is needed to see if the price sustains above key levels like ₹1,920.