INFOSYS LTDShort
INFY Declares Q3 Earnings Amid Market Pressure
Topic Statement: Despite posting healthy Q3 earnings with profit growth of 11.6% QoQ, INFY's stock experienced a significant decline, signaling potential further corrections.
Key Points:
1. Stock dropped 6% after announcing Q3 earnings, creating a gap.
2. Candle broke the 23.6% retracement level.
3. Price may fall to the 38.2% retracement level, a previous support in November.
4. Price is near the 180-day moving average, indicating oversold conditions.
5. If the price reaches the 38.2% level, it will be under the 180-day moving average.
Key Points:
1. Stock dropped 6% after announcing Q3 earnings, creating a gap.
2. Candle broke the 23.6% retracement level.
3. Price may fall to the 38.2% retracement level, a previous support in November.
4. Price is near the 180-day moving average, indicating oversold conditions.
5. If the price reaches the 38.2% level, it will be under the 180-day moving average.
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