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Gladiator Stocks : Infosys
Technical Outlook
Nifty IT Index resumed its structural uptrend after two years consolidation and expected to extend rally in coming quarters.
Within large companies Infosys is also on verge of breakout from eleven quarters range indicating acceleration of upward momentum and fresh entry opportunity
Structurally, the stock has witnessed breakout from Inverse head and shoulders, bullish reversal pattern during July 2024 and now rebounding after taking support at its breakout area coinciding with 38.2% retracement of June-July upmove (1358-1900) indicating positive momentum and relecated buying demand which augurs well for next leg of rally
For details, click on the link below:
https://www.icicidirect.com/mailimages/IDirect_GladiatorStocks_Infosys_Aug24.pdf
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