I am sharing INFY chart on weekly time frame.
The idea is to trade this stock for few couple of weeks.
Reasons to pick this stock are:
1. On weekly time frame we have bullish engulfing candle stick pattern.
2. What I observed is, the stock has stopped making new low. The last low is in the month of June.
3. With the help of harmonics XABCD Pattern, we can calculate its probable next swing which comes around 1860.
So we have a great risk to reward ratio.
risk is your SL which is 1438.
Final target is 1860.
Trust these simple things, like candle stick pattern, they do work..specially on weekly time frame.
The idea is to trade this stock for few couple of weeks.
Reasons to pick this stock are:
1. On weekly time frame we have bullish engulfing candle stick pattern.
2. What I observed is, the stock has stopped making new low. The last low is in the month of June.
3. With the help of harmonics XABCD Pattern, we can calculate its probable next swing which comes around 1860.
So we have a great risk to reward ratio.
risk is your SL which is 1438.
Final target is 1860.
Trust these simple things, like candle stick pattern, they do work..specially on weekly time frame.