Infy took 8 months to complete the Formation. If you observe closely, it has formed intermediate especially in the Handle portion.
Positive indications :-
- Closed above the resistance - 760 levels.
- and showing good strength.
- Long buildups observed in this counter regularly
An increase in volumes is needed for the breakout. If sustains above the current level it can give a good rally up to the 900 levels in coming months.
However, tread with caution as price is sliding on to the upper end of the which may cause a minor dip before the rally. 730-740 could be the lower levels to watch out for.
This is a just beginner’s analysis. Please feel free to share your thoughts regarding this. Thanks for reading!