indiamarketoutlook

Infy: Patience has its own reward...!!!

NSE:INFY   INFOSYS LTD
230 3 5
Were you able to capture the down fall....???

If you have seen any of my previous post on Infy             one can understand that I have been big time bearish on the stock... Nothing personal though but was just listening to levels on the charts... And it has worked to perfection.... All the levels that the chart indicated was respected by the stock....

- Minor support at 933 ( made a low at 924 on closing basis and jumped)

- Above 965 move up to 1000 ( did the same)

- Major resistance at 1020 ( closed right at resistance and then the Big fall thereafter...)


Link to Previous post

View on Infy             on 14th June 2017

https://in.tradingview.com/chart/INFY/dS0QkdCE-Infy-Is-this-a-possible-Head-Shoulder-in-the-making/

Partial profit booking has been done today.

Going forward any jump towards 933-960 if gets rejected will suggest continuation of down trend...

Take care & safe trading...!!!




Infy cmp 946

There you go.... as mentioned we get the bounce we were looking for....

On expected lines infy jumps with a gap up today and is right in the zone of 933-960..making a high of 954 so far

long position taken in the stock can be looked to book profits here


We wait and see whether the stock gives signals of rejection in this zone.

Take care & safe trading...!!!
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Now what?
Reply
@rubixqube,

have already mentioned in the closing sentence...

long term targets for infy is 800 & below

in the short term stock may give a dead cat bounce in which case 930 could act as immediate resistance

take care
Reply
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