INFY - 3 YEAR LONG CUP AND HANDLE PATTERN BREAKOUT
Chart Pattern: A 3-year-long Cup and Handle (C&H) breakout is visible, which is a strong bullish continuation pattern. The breakout has occurred above the resistance level of ₹2,000.
Key Levels: Target Levels based on the height of the cup: First Target: ₹2,204.75 Second Target: ₹2,437.75 Final Target: ₹2,704.65
Volume Analysis: The breakout is accompanied by increasing volume, confirming strong buying interest. Previous volume spikes indicate accumulation during the handle formation. Moving Averages:
Price is trading above the 50-day and 200-day moving averages, which confirms a bullish trend. The moving averages are sloping upward, supporting further price momentum. Momentum & Confirmation:
The stock has successfully retested the breakout zone, validating the strength of the breakout. Price action suggests continuation toward the next resistance zones as marked.