After the recent fall, Infy has formed a Pattern breakdown - Price went below and managed to move inside the pattern. The next direction depends on where it closes today, inside or outside the pattern.
The fall may be big if it closes below the pattern. The target could be at 38.2 Fib retracement level. The correction should happen for the rally Infy has seen for the past 2 years. However the 2 major support level before it reaches the target downside.
Comment
⋅
Price more likely to hit 1662 in the next few sessions
Comment
⋅
Very close to the strong support region of 1662. If this level is broken downside, a big fall can be expected
@MunishSuri today's low is yesterday's closing price. If the price breaks today's low followed by yesterday's low, then the price will drop further. There are strong supports at 1662 and 1583. Watch these levels and decide accordingly.
If the price breaks today's high (ie., if the price goes back into the pattern), then the price may go up. If it does, next resistance is at 1760 region which is the top of the triangular pattern and also the Daily 21MA level