INFOSYS - POSITIONAL TRADE WITH VERY GOOD R:R
Updated
Symbol - INFY
INFY is currently trading at 1942 & approaching ATH resistance zone.
I'm seeing a trading opportunity on sell side.
Shorting INFY Futures at CMP 1942
I will be adding more position if 1980 comes & will hold with SL 2025
Targets I'm expecting are 1780 - 1700 - 1580
P.S. : INFY is approaching ATH resistance zone after a long time. ATH resistances are usually hard to break in one go. To break this resistance, INFY must spend some time here (2-3 weeks) before breaking out. Only then we will see more price growth towards the upside. As of know, given modestly high valuations of INFY & overall market, The setup looks more towards negative side & It is highly likely that the price will take resistance from here & change its course to south. I've shorted far month futures already.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
INFY is currently trading at 1942 & approaching ATH resistance zone.
I'm seeing a trading opportunity on sell side.
Shorting INFY Futures at CMP 1942
I will be adding more position if 1980 comes & will hold with SL 2025
Targets I'm expecting are 1780 - 1700 - 1580
P.S. : INFY is approaching ATH resistance zone after a long time. ATH resistances are usually hard to break in one go. To break this resistance, INFY must spend some time here (2-3 weeks) before breaking out. Only then we will see more price growth towards the upside. As of know, given modestly high valuations of INFY & overall market, The setup looks more towards negative side & It is highly likely that the price will take resistance from here & change its course to south. I've shorted far month futures already.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
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