BullBaba92

Breaking out - Cup & Handle | Inverse H&S

Long
BullBaba92 Updated   
NSE:INFY   INFOSYS LTD
Chart pattern:-
Infy took 8 months to complete the Cup and Handle Formation. If you observe closely, it has formed intermediate Head and Shoulders especially in the Handle portion.

Positive indications :-
- Closed above the resistance - 760 levels.
- RSI and MACD showing good strength.
- Long buildups observed in this counter regularly

Conclusion:-
An increase in volumes is needed for the breakout. If sustains above the current level it can give a good rally up to the 900 levels in coming months.
However, tread with caution as price is sliding on to the upper end of the bollinger band which may cause a minor dip before the rally. 730-740 could be the lower levels to watch out for.

This is a just beginner’s analysis. Please feel free to share your thoughts regarding this. Thanks for reading!
Comment: As suggested, the price did fall to 740 after which there was a bullish candle on Friday. Seems like a good time to enter now.
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