Technical Analysis Infosys

The stock

is daily chart for currently trading around the 1259 mark. Recently it has experienced a sharp downward move breaking below its previous short-term recovery trend. Infosys is resting at a crucial historical support level after a heavy sell-off. It is currently a wait and watch situation to see if buyers step in to defend this 1200-1250 zone again. Major support zone the most critical level to watch right now is the 1200 to 1250 zone. Looking back at the chart around mid-2023 this area acted as a very strong base where buyers previously stepped in and pushed the price back up. The stock is currently testing this exact same territory. Resistance if the stock manages to bounce from this current support it will likely face resistance around the 1400 to 1450 levels which was a previous area of consolidation before the recent fall. Recent trend the short-term trend is clearly bearish. There has been a steep vertical drop recently which indicates strong selling pressure. The bounce if INFY holds the 1200-1250 support and starts forming bullish reversal patterns like a hammer or bullish engulfing candle with good volume it could signal a potential base formation or short-term reversal. If the price breaks solidly below the 1200 level and closes below it it would invalidate the historical support and could signal further downward movement. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.