In the previous session, The Nifty Index saw a negative opening in the morning session due to global weakness but soon recovered from its losses as the day progressed. In the second half of the market, we have seen strong momentum in index. Technically, the Index formed a bullish candle on the chart and closed with a net gain of 131 points. As the Nifty Index closed above previous days high level convincingly, hence we recommend approaching the markets in a positive way.

Look at the below research report of ‘Stocks to Buy for – Wednesday, October 06,2021’ the market opens.

Infosys Ltd

NSE :INFY   BSE :500209  Sector : IT – Software

In the daily time frame, Stock is moving in the form of a ‘Symmetrical Triangle Pattern’. Recently, stock has given a breakout from the upper resistance line on the chart. Stock formed Bullish engulfing pattern as the bullish candle covered almost 90% of the previous day’s candle body. The Bullish Engulfing pattern at bottom indicates that more buyers are entering in the stock to take prices further up. Confirmation was made with the help of 50 EMA support.

In short, INFOSYS has continued to trade in the positive zone. Now a move above 1703 will confirm the uptrend and open up gates for higher levels towards 1740/1788. As far as we do not see any closing below 1655 on the lower side.