INFY: Coil Breakout

INFY in the intra-day charts gives a “COIL” breakout followed by a consolidation and then some follow-through rally. Consolidation of price is a common aspect once prices have moved sharply up or down, that is, travelled quite a distance within a short span of time. Psychological support and resistances are common in while numbers, which was the case here as well, when we realise that 1000 acts as an intra-day supply point for the stock.


The are heading to 1135 , probably they will head back to 988 level and then brake out , lets see how it unfolds
Hi sir,
What was the reason to choose resistance on previous date (6 Dec-blue dotted line) for breakout point instead of choosing breakout point just outside triangle?
@vipicorp, this trade in INFY was from the 15min chart, and the coil breakout actually happened during last hours of previous day. So post opening, obvious breakout was above erstwhile highs.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out