Infy has come back to its strong support zone of 900-930. Risk reward is favorable at this juncture. RSI is showing clear divergence on weekly charts. Other stocks in IT sector are already showing some strength. Since results are out of the way so no strong reason for institutions to sell it at this level. Go long with strict stop loss of just below 900.
Comment:
2% up from the day's low. Making hammer on weekly charts at strong support. Next week should be good.
Trade closed manually:
Not looking good. Infy squared off at breakeven as CNX IT has broken important 10000 level.
Comment:
Got out just in time...sold off significantly in the last 5 mins.
Comment:
Infy survived at 900. Got in again at 924.
Comment:
Today, Infy might rally in the second half. Short covering can take it to day's high.
Comment:
Infy has taken off and started flying.
Comment:
Today, weekend short covering should happen after 2.30 pm. Explosive move might be around the corner.
Comment:
Infy LTP 986.
