Infosys hovering near all-time high; chart suggest more upside
This stock has been hovering around 800 level for the past few days with an appearance of flag pattern.
The stock was in a major consolidation mode within the range 700-770 level for the past 6 months but broke out of the consolidation range level with the appearance of high-volume breakout on 15th July, immediately after the outcome of quarterly earnings.
The major support for the stock is placed at 700 level. On the indicator front, the stock is well placed below its 21-days moving average line.
A break above the 804 level would provide confirmation for big upside rally.