Infosys price is running between a channel. Security-wise average deliverable percentage for May 2021 till 21-05-2021 is almost 57%. If stock successfully breakout the channel, we can expect an upside move for a new positional entry. Fundamentally the company is performing very well. Also dividend of Rs.15 per share is declared.
After breakout, wait for a pull back. Stock may retest the support level and then it can move upside. Take entry after a confirmation candle with a good volume.
Disclaimer : I am not Sebi registered or expert in stock market. This is my personal analysis for educational purpose. I am not responsible for any profit / loss.
Trade closed: target reached
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Infosys near to the previous resistance. Now you can book profit or trail your stoploss.
@AmeyKajarekar, Very Nice Prediction sir. what is the pull back level with SL? Thanks Sir
AmeyKajarekar
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@Gavaskar, stock is currently facing resistance near 1410. If it breaks next target will be 1475 for short term. There is a chance for pull back stock price will take support near 1360. You can consider stoploss around 1305
vinimay
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@AmeyKajarekar, this has done really well.
Curious to know, what do you think...where will it go now?
For a new trader : what do you think would be a good profit booking indicator? Basic one to start with.
can we have talk on telegram ?