From June 2016 till Mid November Infosys share prices tumbled. Price value fell from 1280 to 900 per share. The primary reason for the selloff is poor fundamentals, negative growth and decline in overseas market. Investors’ confidence in India’s second largest IT software service exporter was shaken off. Downtrend continued as a result and Market participants kept reducing their stakes in the firm. Price action reflects that picture precisely in daily chart.
Now it seems like market has discounted the negative information and now waiting for Q3 results. As a consequence, we see buying pressure building up in the stock. Market bounced back from 900 price level in Mid November and that’s continuing till to date. Bulls are challenging the downtrend at end of the year, Keep an eye on the Price action – it can offer significant opportunity for traders.
