Nifty IT has seen a major bull run since past week & now rally is expected to halt on the backdrop of profit bookings.
1. Infy Gapup opening today on positive results.
2. Created a new resistance level near 933-934.
3. Fall to 78.6% Fibonacci retracement levels observed today.
4. Further correction to 50% level is possible since large gap supposed to be filled out.
Sell on CMP.
Target 1: 891
Target 2: 874 on further correction.
SL: 935
1. Infy Gapup opening today on positive results.
2. Created a new resistance level near 933-934.
3. Fall to 78.6% Fibonacci retracement levels observed today.
4. Further correction to 50% level is possible since large gap supposed to be filled out.
Sell on CMP.
Target 1: 891
Target 2: 874 on further correction.
SL: 935
Trade closed: stop reached