Yes...that's the state of Infosys stock. The entire market is in a celebratory mood. All sorts of stocks are rallying like crazy but here's one blue-chip stock which is finding no major takers.
The Picture speaks for itself.
Here's what Infosys stock has done since August 2016
As you can see in the chart above: Infosys stock has bounced from lows of 900 but upside move has been quite muted. There seems to be no buzz and excitement in the move. Right now, the only thing that can be said for Infosys for sure - The stock has a good support at levels of 900 but there is no upside trigger
Infosys weekly chart
A support that stands for 2.5 years has lot of emotional significance. But standing at support cannot attract traders. The fact: Infosys needs to offer reasons to get the attention it deserves
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers