INFY building Long
Updated
Tranch1 - 49 shares at 1545
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price in range since Aug 2021, now started decline on 6 May i.e. broke previous support, will build poistions at major supports
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI? No
2. At important support or resistance - horizontal - Yes - 1564
3. At important confluence of EMAs + price + support - Yes - Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks -LL LL
4. Is there any trend continuation in play?
Currently dropping, may drop more.. next big support 1369
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising quarterly + Yearly... PE lowest in last 6 months - revenue and profit growth very strong
2. Are institutional investors/promotors increasing their stake - No major change, all constant
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price in range since Aug 2021, now started decline on 6 May i.e. broke previous support, will build poistions at major supports
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI? No
2. At important support or resistance - horizontal - Yes - 1564
3. At important confluence of EMAs + price + support - Yes - Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks -LL LL
4. Is there any trend continuation in play?
Currently dropping, may drop more.. next big support 1369
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising quarterly + Yearly... PE lowest in last 6 months - revenue and profit growth very strong
2. Are institutional investors/promotors increasing their stake - No major change, all constant
Trade closed manually
Took profits on 5 Aug, 2022 at 1612 @ 4.35% because market had done a good rally
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