dravya

INFOSYS - PINBAR! Great!! ( Short-term )

Long
dravya Updated   
NSE:INFY   INFOSYS LTD
CMP - 942.65

Infy has formed a pinbar on a strong weekly support.
Also, you can say it's a double bottom on recent data.

I have drawn the various levels you should be aware of.

Everything is there on chart.

You can trade accordingly with your strategy.

Thanks.

I'll update the idea whenever I'm watching it.
If you have any doubts, opinion or clarification, you can make a comment, I'll reply.

Trade active
Trade closed manually: Not showing strength. Closed manually . CMP 935. 7 points loss. A small one , less than 1 percent.
Comment: Got saved again. Charts tell the story before the news. We exited before Trump news of H1-B Visa.
Comment: You can look at shorting for mid-term, bad news has made it breach the weekly support.
Comment: Short-term didn't work due to lot of news, but positional SL worked great. I hope positional traders made money :)
Comment: So much news surrounding Infosys but price action telling the true story. Up up up from weekly support.

Lesson revisited : read the terms news but trade the price action nit opinions.

Let's see how it behaves after reaching the pink trendline if it does.
Comment: Next : Keep an eye on 1000-1010 levels. Should halt there.
Comment: Target 3 reached. Purpose of chart over. Closed.

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