Arun_000

INFOSYS (INFY) - SELLERS BECOMING WEAK

Long
NSE:INFY   INFOSYS LTD
NSE:INFY

  • AFTER A LONG RALLY ,PRICE STARTED TO CONSOLIDATE FROM MID OF OCTOBER
  • FORMED A TRIANGLE PATTERN ,WITH STRONG SELLERS INITIALLY
  • PRICE DID NOT BREAK BELOW REF. POINT A, ALSO IT FORMED KIND OF HIGHER LOW FORMATION,INDICATING SELLERS ARE BECOMING WEAK
  • PRICE HAS TESTED RESISTANCE LEVEL 1148-1150 FOUR TIMES.
  • NEW RALLY MIGHT START ONCE PRICE BREAKS ABOVE RESISTANCE LEVEL WITH RELATIVELY HIGH VOLUME