INFOSYS LtdWe expect INFY to reach price of 1725 - 1730 in Near Term. We support our analysis with multiple Fundamental as well as Technical confirmations.
1) Fibboncci Retracements
- the company has been consolidating between 23.60% and 38.20% which makes it a strong support for the stock. Hence we can expect an upmove towards 50% and then 61.80%.
2) Head & Shoulders
-an Head and Shoulders Pattern has been seen in the stock chart from past 4 months data, which suggest after the break of the neckline the stock will show an upmove.
3) Ascending Triangle
- an ascending triangle pattern is forming in the stock as the price is approaching the resistance.
And last and important analysis is the Gap made by the stock on 18th April 2022, which will eventually have to be filled.
