INFOSYS IS SET TO BE LOSING IT'S STEAM IT SEEMS. IT HAS BROKEN IT'S TREND LINE SUPPORT WITH A GAP DOWN YESTERDAY. ONE CAN TAKE A SHORT TRADE WITH STRICT STOPLOSS OF 675. TECHNICAL INDICATIONS ARE:
1. BOLLINGER BANDS - INFOSYS MADE A GAP DOWN BELOW THE MEAN LINE OF BOLLINGER BANDS AND WILL NOW APPROACH THE LOWER BAND. THE MEAN LINE WILL ACT LIKE A RESISTANCE...
Very simple setup one can trade to make fast profit. The Stock has formed a bullish Doji Star pattern at a good support line so one can take chance with Stop Loss just below the 560 level on closing basis. We can expect a target of 625.
White candlestick followed by a Doji with a gap up at the opening formed bearish Doji Star(on 29.03), which gave confirmation yesterday. RSI is telling the stock is in oversold zone and running out of stream. Moreover there is possibility of trend reversal which is quite often after forming 5 pivots but that needs confirmation yet. One can short the stock by...
The stock has formed a Doji Star on 09.03 and Buy signal was confirmed on next day as price traded above the high of it. Moreover it was at Crucial 50% of the last swing so one can go long at this level by providing a small stop loss. One can easily expect 2-3 times reward of the risk taken.
I would go long the stock because
a. it made a bullish Doji Star 2 days ago at significant 50% retracement level.
b. Primary trend of small swings being supported by the trendline.
c. Last Bar is giving opportunity to enter at cheaper price so Stop Loss is affordable.
One can go long providing suitable Stop Loss and expecting the target double the risk provided.