Infosys Ltd has recently broken out from a Symmetrical Triangle pattern on its daily charts, signaling a potential bullish trend that could see the stock reach ₹2,000 in the coming months. Analysts suggest that short-term traders should consider buying the stock on dips, targeting a price range of ₹2,100 to ₹2,120 within the next 1-2 months.
On December 13, 2024, Infosys shares peaked at ₹2,006 but struggled to maintain that momentum. The breakout from the symmetrical triangle indicates a consolidation phase prior to this upward movement, which is characterized by converging trend lines that often lead to significant price action.
Traders typically look for increased volume during such breakouts to confirm the strength of the move. If the stock continues to show positive momentum, it could reinforce investor confidence and attract further buying interest.