Infy: Sell the Flag

Aug 9, 2017

In my previous post this downtrend was anticipated quite far back See >>

Currently price is in the middle of the range (1015-921) specified in the above post, which is also around 61.8% retracement. Expect some pullback from this zone. But this pullback should be weaker and so far it is weak. Watch for price action before shorting. Any impulse on the upside above the flag will nullify this trade.

Setup: Bear Flag
Entry: Let the flag pattern complete and break on the downside. The higher the price goes in the flag, the better.
Stop: As per risk appetite
Targets: 951 and lower..see chart.

Aug 10, 2017

Note

Strong impulse seen in Infy, so as mentioned this flag short setup is negated.

Aug 11, 2017

Note

post closed.