Infosys surged 4.2 per cent moving out of the band between Rs.1,900 and Rs.2,000 last week. The stock has also moved slightly above its 200-day moving average.
The oscillators on the daily chart are trending northwards, backing the stock’s upmove. Traders with a short-term perspective can buy the stock with a stop-loss at Rs.1,950 levels.
A positive start in the week ahead can extend the stock’s bullish momentum and push it higher to Rs.2,150 and Rs.2,250 levels. Investors with a medium-term view can also buy the stock with a deep stop-loss at Rs.1,900.
A strong rally beyond Rs.2,250 can take the stock higher to Rs.2,350 in the medium term. On the other hand, a conclusive fall below the significant support level of Rs.1,900 will bring back bearish momentum and pull the stock down to Rs.1,800 or Rs.1,700 in the medium term.
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