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Infy : The Bull Flag

NSE:INFY   INFOSYS LTD
Notes on the chart
Regards
Jan 20
Comment: S1 is 729 and S2 is 726

Flags are little tricky to play but if and when then fructify, they yield handsome return.
E.g. look at the following chart of Wipro

The spikes in candle A and B faked out the breakout attempts. In this setup it's good to be shaken off early for a breakout entry (on an intraday trade) because many a times the flag continuous it's development and breaks the preceding swing point.
One may enter again above the spike in such a case.

All the best.
Jan 20
Comment: I ll close the trade at 747
Jan 20
Trade closed manually: @ 745. Facing some hiccups. That's 10 pints in 30 minutes. Not bad :i
Jan 20
Trade closed: target reached: T1 done
Jan 20
Comment:
Infy @ 750 now. May face some psychological resistance. Heading for T2

Comments

How to decide T1, T2, S1, S2? Pls. Guide!
Reply
Bravetotrade pravinosharma
@pravinosharma, those are simply the immediate support and resistance levels drawn on the chart.
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