Inofosys Limited 15% Downside Possibility

INFY

Information technology Sector is going through a difficult phase after a strong rally in 2021 Since then this INFY has nor made any returns to the investors and just drifting sideways in a wide range.

Recently it has broken down below the major swing low support on monthly timeframe and the selloff seems to be very strong on huge volumes.

While most of the short term supports are also broken, The big question for all of the investors is where will this fall end?
And Many waiting with a question when i should invest in this?

So here is a complete technical view on INFY
Since it has broken support the next major support is 15% below from CMP of 1154
Why that support is very important and will trigger a Bounce?
1. That is a major demand zone on the monthly chart if you look at the left of the chart a pullback or doji candle will act as a base.

2. At that level long term 12 EMA will support strong cause 6Month EMA is already broken so thats a resonable next stop.

3. After such big fall bears will exhaust and New Buyers will come in.

4. On monthly chart itself 200EMA is also aligned there.

IT Sector monthly chart - is also approaching next demad zone which is 5-7% down.


This is the complete long-term technical analysis for INFY I hope you all find it usefull, hit like and comment your views.

Keep Learning,
Happy Investing.