Infy, BreakoutPrice broke out. This is quite a significant happening in the technical study of the chart of a stock. Price consolidated for about six months. Breakout means traders see some good value in the stock and they are ready to pay a higher price. However, what could be the probable target in near term? The distance of the consolidation is 100 points approximately. This is the ideal target. However, we can take out profit even if we can get 50 points. Note again that if the price can defend the breakout level (sometimes price retraces towards breakout level) it can make significant upside.
INFY trade ideas
Infy, ConsolidationInfy coming down to the support zone of the price consolidation band. Buying close to this support line makes SL smaller.
It was not a bad decision to remove Vishal Sikka and appoint Salil Parekh. Many with vested interest shouted at Murthy. Price of Infy shows that Murthy was correct.