Technical Analysis Infosys Limited, Support and Resistance

The stock

is attempting a sharp recovery rally from the base of a broad bottoming structure on the daily chart. Following a prolonged downtrend from the 1480+ peaks earlier in the year the stock found strong buying interest around the 980–1000 zone in late September and October setting up a potential double-bottom or base-building pattern. Immediate Resistance (1160 - 1180) The stock is directly testing its immediate supply barrier between 1160 and 1180. This area marked the breakdown level and consolidation highs of August and September. A clean daily close above 1180 is necessary to confirm a trend reversal and open room toward 1240–1260. Immediate Support (1080 - 1100) In case of a pullback, the prior swing high and mid-range pivot around 1080 to 1100 serves as the first line of defense for buyers. For short-term traders entering right below the 1160–1180 resistance zone offers an unfavorable risk-reward ratio. The optimal setup is to wait for either a minor pullback toward the 1080–1100 support to enter with a tight stop-loss or a confirmed breakout and daily close above 1180. For long-term investors the successful defense of the 1000 base makes this an attractive gradual accumulation area with risk managed strictly below 980.