Infosys Weekly Chart: Strong Rebound from Demand Zone, Eyes on Breakout Levels

📊 Technical Structure & Key Levels Support Respected: The stock found strong buying interest at ₹1,350, a long-standing horizontal support that also aligns with the lower boundary of a rising channel (red lines). This confluence led to a decisive bounce, confirming demand zone integrity. Uptrend Channel Intact: Despite volatility, the broader bullish structure from 2020 remains valid. The stock has stayed within an ascending channel, suggesting long-term uptrend continuation. Horizontal Zones of Interest: Major Support: ₹1,349 – ₹1,375 Current Resistance: ₹1,637 – ₹1,730 (where price is currently stalling) Breakout Target: ₹1,900 – ₹2,000 (green box), if ₹1,730 is breached Volume Analysis: While volume has yet to show a breakout-level surge, the recent rally is orderly and persistent, not driven by speculative spikes—often a good sign for trend sustainability. 🔁 Historical Range Behavior The black horizontal zones indicate that Infosys has oscillated between ₹1,350 and ₹1,730 multiple times since 2021. The repeated rejections at ₹1,730–₹1,750 (marked with red dots) define this as a critical multi-top resistance. A clean breakout above this would invalidate the multi-year range and could trigger trend expansion toward all-time highs near ₹2,000. 🧠 Strategic Outlook Time Frame View Reason Short-Term 🔼 Bullish Bias Strong bounce, higher lows forming Medium-Term ⏸️ Cautious Bullish Needs breakout above ₹1,730 Long-Term 🔼 Bullish Rising channel structure intact since 2020 📌 Bullish Scenario: A weekly close above ₹1,730 could fuel a rally toward ₹1,900–₹2,000, especially if supported by volume and broader market strength in IT. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 📄 Investments are subject to market risks. Read all related documents carefully before investing.