INFOEDGE has given a breakout from the trendline, but higher prices were rejected and stock has now closed below the supply zone.
Stock has also been able to withstand the market crash and has shown good relative strength. It is trading above all major EMAs. (20,50,100,200). Since the trend is bullish,only long trades should be initiated in this stock.However, there will be no valid trade as per setup unless the stock is able to cross the resistance.
Once breakout is done,an upmove of 5-7% is possible towards 2900/2950 level.
RSI(14) is around 60 levels. ADX(8) is less than 25.
Here is my complete analyis :
1. Weekly Chart
2. EMA
3. Fibo Level
Trade only as per you RR. This is just an analysis and not a recommendation.
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Rejection of higher prices from supply zone today. No trade initiated as of yet.
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Price reversed from all our important levels as marked in the chart. Trade still not active.
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Market is going up, and Infoedge is coming down. Price reversed from an important level and now focus on 2500 support level. Will not initiate any trade in this stock.View only for analysis purposes
I would love to collaborate with you. 45 EMA on the weekly chart was a nice find.
(There will be a weak resistance @ 2795 levels (As 2800 might act as a psychological price barrier)
internal_0rgan
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@Ts_Arun, Thanks! And sure,bro.Do ping me on private and we'll discuss.
(There will be a weak resistance @ 2795 levels (As 2800 might act as a psychological price barrier)