Infosys, Tata Steel, IRFC: Trading Strategies for these buzzing stocks

Domestic stock indices snapped the recent winning run on Tuesday, as investors keenly awaited the US FOMC meeting outcome for further action. The BSE Sensex tanked 377.50 points, or 0.54 per cent, to settle at 69,551.03. The NSE Nifty50 dropped 90.70 points, or 0.43 per cent, to end the day at 20,906.40.

A few stocks namely Infosys Ltd, Tata Steel Ltd and Indian Railway Finance Corporation Ltd could be in the spotlight today. Here is what Santosh Meena, Head of Research at Swastika Investmart has to say on these stocks ahead of Wednesday's trading session:

Infosys | Resistance: Rs 1,520-1,600 | Support: Rs 1,420-1,400
Infosys has been trading sideways over the past few months, with Rs 1,500-1,520 acting as a key supply zone, where a large number of sellers are come in, putting downward pressure on the stock. The 20-day moving average around Rs 1,460 is offering immediate support while Rs 1,420-1,400 levels are a crucial demand zone where buyers tend to step in. This sideways movement may persist for some time. However, if the stock manages to break above the Rs 1,520 resistance, it could rally towards the Rs 1,600 mark.

Tata Steel | Resistance: Rs 150-152 | Support: Rs 125
While the Nifty Metal index has rallied in recent weeks, Tata Steel has underperformed it by 10 per cent, lagging behind its peers. Despite this, the stock has found a temporary ceiling around Rs 135-140, a 'supply zone' where sellers often emerge. Breaching this zone could signal renewed momentum, with the next target being the Rs 150-152 range. On the downside, the Rs 125 level holds strong support, coinciding with a key historical pivot point. The overall trend remains sideways but a break above Rs 140 could offer a potential entry point for long positions.

Indian Railway Finance Corporation | Resistance: Rs 90 | Support: Rs 75
IRFC was in a strong momentum, before it entered into a three-month long consolidation phase. The stock is now coming out of that phase and is resuming its bullish momentum. That said, it has a crucial supply point near the Rs 90 level. The scrip has to sustain above the Rs 90-mark to get further strength; otherwise, it can see selling pressure at higher levels after a vertical move. On the downside, the Rs 75 level is a critical support level. Below this, one can expect some weakness.
 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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