virralthakkaar

Breakout in Daily Charts

Long
NSE:INFY   INFOSYS LTD
*NSE Cash study

Infy did try very hard to cross the 20 day EMA yesterday and did too but couldn't hold. Nearing the end of the day, IT stocks took a beating and so did the market.

Now, looking at the charts today, RSI held above 50 and so did the trend on the daily charts . I see a strong support at 1290 levels so we can go long with a stop-loss below 1290 for targets of 1350 and 1380 or even 1390+.