INFY

Infosys Charts a Bullish Reversal as Board to Consider Buyback

Infosys (INFY) – Daily Technical Analysis Infosys (INFY) is showing signs of a short-term recovery after a prolonged downtrend from July onwards, with the stock closing at ₹1504 after forming a strong bullish candle, highlighting buying interest at lower levels. On the technical front, price action suggests an early bounce as the stock has reclaimed its 20-day moving average (₹1490), though it still trades below the 50-DMA (₹1515) and the 200-DMA (₹1610), keeping the broader trend weak. Indicators are turning supportive, with RSI (14) at 53 reflecting improving momentum, Parabolic SAR shifting below the price giving a buy signal, and MACD showing early signs of a bullish crossover as downside momentum weakens. Key support lies at ₹1470–1450, while immediate resistance is placed at ₹1515, followed by ₹1535, and a major hurdle remains at ₹1570–1600. Sustaining above ₹1515 could open the path toward ₹1570–1600 levels, whereas failure to break resistance may lead to sideways consolidation or a retest of support. In conclusion, the stock carries a short-term positive bias with improving indicators, though the long-term trend remains under pressure; traders may consider buying on dips with a stop-loss below ₹1450, while investors should wait for a decisive breakout above ₹1600 to confirm a trend reversal.