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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.