I observed pole flag apttern in infosys at hrly chart. Inside that, there is a small diamond pattern as well.
This can give a good move. For this expirt target will be 760 and overall target is 770
Stop loss will be 740 on hrly close basis.
NSE:INFY
INFOSYS has made descending triangle,indicating further down side movement.
Entry : 706 - 707.5 Range,Enter only if sustains below range
Stoploss : 1%
Basic Target: 695
Idea by MALKIAT SINGH
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After a very good uptrend i think trend is changing now with this breakout on downside.
you can see this on chart clearly it broke out the trendline and also the head and shoulders pattern is also there.
my targets for this trades are
TARGET 1- 709
TARGET 2- 701
TARGET 3- 684
Looks like good r/r for short term trade. On the higher time-frame it appears the price action could remain in consolidation. To me it appears that this trade would complete in the next 2 days.
Infosys
CMP 659
The zone of 665-675 is an important level for Infosys.
Weakness will be confirmed once it closes below 644
Alternatively one may consider the following strategy for Infy
Consider selling Infosys 680 Call option for Jan series
Lot size 1200
CMP 21
Max profit potential ₹25200 per lot
The strategy will have an in built loss protection cover...
Infosys looks bearish as it has completed the impulse waves, and looks to start the correction wave. Take confirmation at 613 level. If broken on weekly basis, can be taken as a positional short, or can be removed from portfolio for the next year and a half.
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We teach, and practice what we teach, kindly consult your advisor before taking any positions.
![INFY: Infosys [long] anticipating a push to 684](https://s3.tradingview.com/v/VdojOPdy_mid.png "Infosys [long] anticipating a push to 684")
