AbhishekHSinghCMT

INFY- Possible H&S Pattern with Truncated Right Shoulder

AbhishekHSinghCMT Updated   
NSE:INFY   INFOSYS LTD
2
There is a small channel which can resist the up move & if stops in the zone 1080-1090 which is channel top & any confirmation of the downside move at respective ends can be taken as a bearish view with that recent swing high as stop & initial target -1010 & Going Below 1010-1000 Zone - H&S Pattern with truncated right shoulder gets activated

Target Calculation- Head to Neckline Distance = 266 points - Going Below 1010 - we will subtract 266 points from 1010 -we get 745 as likely & ideal target level.
Trade active:
07:10 Hrs- 22nd Sep2016

Either Channel Top in the zone 1080-1090 & resistance should be taken as trading opportunity or break of neckline as another opportunity in between traders will be chopped.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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