Infosys Stock Discussion

$INFY showing strength! Closed at $21.96, holding above MA20 ($21.55) & MA250 ($19.39). Pre-market up 1.64% to $22.32, signaling bullish momentum. Potential breakout level at $23.23—next target: $24-$25 if it clears! 📈💪

INFY looks strong above $21.55 (20-day MA), with support at $21.78 and bullish signals from Parabolic SAR and RSI near 64. Eyes on resistance at $22.45—breakout potential brewing! Long-term trend intact above 250-day MA at $19.39. 🚀📈

Market News
【United States】
Data from the U.S. Census Bureau shows that in July, new housing starts in the United States fell by 6.8% month-over-month, with an annualized rate dropping to 1.238 million units. This figure is lower than the market expectation of 1.33 million units and marks the largest decline since March. This contrasts with the revised 1.1% increase from the previous month.

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The surge in large deals for Wipro and Infosys signals a potential recovery in the IT consulting sector. Wipro's CEO sees strong deal momentum and early signs of growth.

The strong performance of Wipro and Infosys, marked by a significant increase in large deals, suggests a potential recovery in the IT consulting sector. The companies' ability to exceed earnings expectations has fueled optimism for future growth.