INFY
Major trend is upside
stock started correcting from 9th april onwards.
failed to make LH LL in bigger time frame.(hint for trend change)
1370-1378 is the previous swing high. that level was breached and rallied then it was facing pullback from 27th May onwards.
Currently, the stock faced buying pressure from the confluence of supports.
support of the uptrend line marked.
previous swing high range support.
200ema of 15min.
consolidated in the rectangle range for 2-3 hours and faced buying pressure with good volume.
bullish marubozu engulfing candle in 1hr time frame.
1hr stockastics moving upwards from oversold region.
Major trend is upside.
NiftyIT is also creating a flag and pole pattern.
This is a high probable trade for me. I will be looking to hold as long as possible with SL at 1368.
Can be watched for intraday in the coming days.