jashdoshi

Bearish Divergence for INFY! (good short opportunity)

Short
NSE:INFY   INFOSYS LTD
As you can see in the chart, the path it has been following(yellow colour) depicts downward moment for this stock. Also the rsi indicator shows bearish divergence on the four hourly timeframe that is higher high on the rsi but lower high on the stock price hence looking bearish to me. Also it looks like the stock is forming lower highs and lower lows recently hence going into a descending channel . My price target would be around the next weekly support that is 1317 region.