Stock Pick For Thursday, October 28, 2021

  • Stock Market Analysis
  • Editors Pick

In the previous session, the Nifty index opened on a slightly positive note, later it witnessed consolidation in a narrow range. However, in the last hour of the market, the index saw profit booking from higher levels. Technically, The Index formed a bearish candle on the chart and closed with a net loss of 57.45 points. The market looks to be volatile in the coming session due to derivative expiry. Hence a cautious approach is advisable for the next trading day.

Indian Stock Market will open flat. Technically, Nifty is still in the negative zone whereas BankNifty is in the positive zone. Nifty would enter into the positive zone once it closes above 18339 for Nifty whereas BankNifty would enter into the negative zone once it closes below 40499 levels. Until either of these happens, the market would continue to consolidate in a rangebound region. Traders can wait for the confirmation of the trend and take the trade in that direction.

Following stock looks technically strong and traders can go long at below given levels.

Infosys Ltd (NS: INFY )


NSE: INFY   BSE: 500209  Sector: IT – Software

In yesterday’s session, Infosys Ltd. stock prices made a positive candle on the chart and closed with a net gain of 1.48%. A white window occurred on the candle chart. Prices have been giving a break above the Ichimoku cloud which is an indication of a positive trend. Since price has taken support of 20 DMA which suggests a positive bias for the short term.

The overall trend for Infosys is positive and dips around 1708-1710 levels will provide a good opportunity to accumulate the stock. On the above chart, we have applied Fibonacci projection, which is used to determine the price action, support and resistance levels. According to the indicator, prices can continue to move higher towards 1790 and then 1850 levels. One can maintain stop loss below 1650 levels.

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  • Prakash Bhavsar @Prakash Bhavsar
    Good Analytical Technicalview
    Like 0
  • Pratyush Mittal @Pratyush Mittal
    the first stock told by you which is correct
    Like 1
    • Abhishek Parakh @Abhishek Parakh
      @Pratyush Mittal All stocks recommended were perfect. Revisit the stats again and you would understand. These stocks are recommended for swing trading and not intraday trading.
      Like 1
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      100
  • DhannaRam Choudhary @DhannaRam Choudhary
    Thanks
    Like 0
  • ANKIT DOSHI @ANKIT DOSHI
    sir super analysis I follow all chart
    Like 0
  • ANKIT DOSHI @ANKIT DOSHI
    sir super analysis I follow all chart
    Like 0
  • Gauri CM @Gauri CM
    Let the stock even perform
    Like 0
  • Gauri CM @Gauri CM
    Let the stock even perform.😜😜
    Like 0
  • siddeswara TS @siddeswara TS
    nice analysis
    Like 0
  • siddeswara TS @siddeswara TS
    nice analysis
    Like 0
  • Dharamvir Yadav @Dharamvir Yadav
    great
    Like 1

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