On the daily chart, Infosys has turned upwards after taking support at the 61.8 percent Fibonacci retracement level suggesting bullishness dominant in the stock.
Further, it is on the verge of a breakout from an Ascending Triangle pattern neckline placed at 1215, a successful breakout from the pattern with healthy
volumes can resume the uptrend.
RSI has turned upwards breaking out of the upper Bollinger Bands suggesting extended bullishness in the coming trading sessions.
Stock may be bought in the range of Rs 1,185-1,195 for targets of Rs 1,260-1,350, keeping a stop loss below Rs 1,130.
Disclaimer: The author is Technical Analyst at YES Securities (I) Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.