Infosys 16.06.2018 10:07AM

INFOSYS ltd stock’s technical chart has taken the formation of “Rising wedge” pattern in a daily time frame. As we can see the last session’s been strongly bullish in trendending up near the channel’s resistance slope line.As per the technical aspects of the pattern, the market is expected to continue to retest the resistance slope line and turn bearish. A negative rally up to 1240is possible in such scenario. On the other hand, the stock will remain positive if the market been able to breaks above a strong resistance zone near1290. The upside rally could test 1310-1340 levels. Key support holds at 1240.

Technical Chart:

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