Infosys and Atul Ltd. Showing High Rise In Future OI

15 Jul 2024

INFY

• The stock price was strongly rejected near the 1,730 level and experienced a significant drop.
  
• Later on, the stock found support near the 1,380 level and started to climb.
  
• Once the price broke through its trendline resistance, it made a sharp upward movement and reached its previous resistance area.
  
• Due to the rising volume, there is an expectation that the stock could break through the resistance and continue to move upward.
  
• Additionally, the MACD indicator is showing strong momentum as it is trading above the zero level.
  

ATUL

• The stock has been on a downward trajectory, consistently creating lower highs and lows.
  
• A recent breakthrough of the parallel channel has been noticed, accompanied by a rise in trading volume.
  
• Moreover, the RSI indicated a divergence amidst the downtrend, with the current RSI standing above 70, indicating strong buyer momentum.
  
• There is a potential for the price to move upwards from its current position.