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Technical Analysis of Infosys Stocks for Short Term Trading – June 20, 2022
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Short Term Trading Pick for the Day -
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Recommendation |
BUY |
Buying Range |
1415-1400 |
Stoploss |
1365 |
Target 1 |
1465 |
Target 2 |
1510 |
1. The IT space witnessing a relative outperformance post the recent corrective phase.
2. The prices have breached the previous swing low but the RSI Smoothed oscillator has not, indicating possibility of a positive divergence.
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3. The June series contract witnessed formation of fresh long positions.
4. Hence, we advise traders to buy the stock in the range of Rs.1415-1400 for targets of Rs.1465 and Rs.1510 in next 2-3 weeks. The stop loss for positions should be placed below Rs1365.
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