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SumantParanjpe
Jul 5, 2020 7:12 AM

Infosys- short 

INFOSYS LTDNSE

Description

Infosys formed a rising wedge on daily charts with the last day closing on the edge of the Bollinger Bands (with 3 std deviations).

If it does not break 770 with volume, it will fall back towards lower trend line of 725 levels. However, if it does break 770 with volume, it will rise to 810 levels.

The strong gain made by Rupee on Friday along with the daily charts formation makes for a bearish outlook on the stock.

The above is for educational purposes only.
Comments
aakashc3
I've already shorted based on crossing upper BB + huge OI at 760 levels on option chain, let's see this week how it rolls :)
nihaalnasar777
is it good for swing trading if it breaks 770 with high volume for this week.
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