INFY
Analysis on a Daily Timeframe! Double Bottom Pattern formation in Infosys Ltd!
Double Bottom Pattern/ W Pattern Formation with RSI Divergence!
Analysis:
As we can see in the chart
INFY
started falling down from Feb 2024. It was in clear downtrend. After that it has made a double bottom pattern but it's second bottom is lower than its first bottom, so I have added RSI indicator to get a confirmation about Divergence. We can see a clear divergence while price falling down RSI moving upwards so we can expect the price will move upwards in the upcoming trading sessions. I have marked all the important levels on the chart please have a look. Trade Psychology and Setup:
Entry = Current price level is good to Enter
Target = 1607.65
Stop Loss = 1460.50
Disclaimer = Consider my analysis for Educational Purpose only.
Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward ratio
4) Don't trade with full capital
Trade active:
Stop Loss shifted from 1450.60 to our Entry Price(No Loss Trade).
Comment:
Flag and Pole Pattern with breakout in Infosys!
Comment:
Important Fibonacci Retracement levels for Infosys
Avinash K.
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