Good day :)
NIFTY IT has given a range breakout with a strong Marubozu open candle.
Most of the IT stocks are performing really good and most of them are giving breakouts.
I have identified one of the most strongest stocks of the IT sector which holds a weightage of more than 7% in Nifty. The stock is INFOSYS.
This stock has been in a channel since May 2022. In...
Infosys looking good if sustains above 1530 for the marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Infosys Anylysis on 15min TF You can clearly see how the infy from last 20Days in Stuck between there
So we can expect trending move either side.
But Looking at Volune i dont think it can sustain above the level
From among the IT Pack, Infy is the one I'd love to keep a watch on.
From the high to a 30% correction, the stock is slowly inching its way up.
Forming a double bottom pattern, the current price is hovering near the neckline.
Positive with initial targets of 1750, 1900 and 1950. Above 1950, we can expect good move upwards.
The stock has strong support at...
Stock Name - Infosys Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1636
#This is not Buy and Sell recommendation to any one. This is for education...
Infosys forms the W pattern and also the trendline breakout. it will be a good buy at CMP or we can wait to fill the gap Targets are marked on the chart.
INFOSYS AT 1590 levels is around strong supply zone,
Descending parallel channel resistance around 1610 levels
Horizontal resistance around 1602 to 1630 as per previous swing high levels,
Bearish divergence on RSI with respect to price,
Bearish wolf wave formation, where price are trading above the structure formation which indicate overbought situation...
IT sector has now bottom out now we can see reversal in it stocks but try to trade in large cap or few selected midcap stocks like- Infosys , Mindtree , TCS
this is only for educational purpose only -
INFY Intraday levels for Tomorrow..
Support and Resistance Zones - When price breaks the zone, Support zone will become Resistance and Resistance zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Reasons for Short as follows:
1) Classic Head & Shoulder Breakdown Pattern
2) Price trading near 52 Week Low Zone
3) IT Sector is the Weakest and Leading the Bear Market
4) Global Recession means Slowdown in Revenue for these IT Companies
SELL Weakness
Stop Loss above 1420
Targets:
T1= 1320/ 1300
T2= 1250 ish zone
![SBIN: [1H] SBIN is reducing their risk now](https://s3.tradingview.com/3/3tZRiwBo_mid.png "[1H] SBIN is reducing their risk now")
![INFY: [1H] INFY on Step Down for Sometime](https://s3.tradingview.com/g/glMjakFc_mid.png "[1H] INFY on Step Down for Sometime")
