Infy is trading in an upward channel with good support at the lower trend line for the last few months. We can go long with a target to the upper channel boundary.
Infosys formed descending triangle. As per request, I posted this article. Anyone can ask stocks-related queries. I try to post any stocks as per request.
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Infosys has taken support at Trend Line. I breaks support then levels of 1260 and 1230 can be seen in coming days. If takes support and rises then 1300, 1320 levels can be seen in a session itself.
Entry : 1296.50
Stop Loss : 1289.50
Target : 1304 / 1310
The analysis is based on simple price action only. Entry point given are valid if the resistance / support breaks convincingly. For that learning candlesticks psychology is a must one.
Note : Don't jump in to the trade once market reach the entry level, most of the time will get better entry and that gives...
*NSE Cash study
Infy did try very hard to cross the 20 day EMA yesterday and did too but couldn't hold. Nearing the end of the day, IT stocks took a beating and so did the market.
Now, looking at the charts today, RSI held above 50 and so did the trend on the daily charts. I see a strong support at 1290 levels so we can go long with a stop-loss below 1290 for...
Trend line breakout and cross over above the 10 day average.
1363-1399.
Supply zone: 1363-1399
Weakness can resume below 1280.
The current price can initially be a pullback towards the supply zone.
Intra-day dip 1-2%
on 09/02/21 can be looked
at as opportunity to trade long.
with a stop loss of 1277.
Infy is a "Short" in the smaller i.e. Hourly/15m timeframes and undoubtedly a "Long" in higher TFs.
It seems to have completed (or about to complete) an Impulse 5 move up which is a part of wave 1 of one larger degree which is in-turn a part of wave 3 of the largest degree, if you understand what this means. (Since strangely Trading View doesn't allow you to...
INFOSYS looks really good at this level, especially when markets are expected to correct and dollar index to shoot up. This could be a good bet for a short term.
CHART BY - ADARSH DEY
Shooting Star On Monthly Time Frame.
Best Selling Zone 1330-1340, Strict SL - 1400 (Monthly Closing Basis)
If Infosys Breaks & Close Above 1400 Level On Weekly Time Frame In 1st Or 2nd Week Of This Month Than Maintain SL On Weekly Closing Basis.
If Infosys Breaks & Close Above 1400 Level On Weekly Time Frame In 3rd Week Of This Month Than Maintain SL On Monthly...
