INFOSYS LTDLong
Turning Bullish: Infosys
Infosys has turned bullish by taking strong support around 1760 levels.
Previously, it had a strong resistance around 1953 levels.
It came under strong selling pressure breaking all resistance like 20 EMA and 50EMA.
However, it took strong support around 100 EMA levels and turned bullish.
Resistance levels: 1903, 1953
Support levels: 1823, 1760
Verdict: Wait for confirmation that the 20EMA (Black Line) will cross above the 50EMA (Orange Line) in the weekly closing. If RSI also rises over 60, we can enter for a target of 1950 levels.
Previously, it had a strong resistance around 1953 levels.
It came under strong selling pressure breaking all resistance like 20 EMA and 50EMA.
However, it took strong support around 100 EMA levels and turned bullish.
Resistance levels: 1903, 1953
Support levels: 1823, 1760
Verdict: Wait for confirmation that the 20EMA (Black Line) will cross above the 50EMA (Orange Line) in the weekly closing. If RSI also rises over 60, we can enter for a target of 1950 levels.
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