Infy - Cup and Handle - waiting for breakout

8 May 2023

Reasons for the cup and handle to breakout:

• Infy - Cup and Handle - waiting for breakout
  Retest done at RBR candle in daily
  Huge possibility for gap filling
  Nasdaq has tested the current supply zone multiple times and ready for breakout
  TCS is in the clear up trend. Some short covering positions is holding the infy to breakout.
  Huge OI is formed at 1300 levels, so 1280, 1260 will see a short covering positions which is pulling the current selling.
  Today's close is above the RBR demand area which is a positive sign.