Double top INFY WeeklyInfosys is been under lot of pressure lately. The double top has formed and it is close to it support levels at 950. The A/D indicator does not confirm the sharp move seen in the stock and the RSI is also close to 40.
Recommend to watch this stock next few trading sessions.
Long if it moves firmly above support levels with high volumes. Target 1040.
Short if it moves below support levels with confirmation on RSI and A/D. Target 870
Infosys
Infosys Buy at trendline BreakBuy Setup:
Infosys is in a very bullish area after a long time. It bounced off the good support near 1010 level. Buy if it breaks the above trendline.
Short Setup:
If infosys breaks the support, let it retest the resistance at 1010 before shorting it with a target near 960 level
INFOSYS Bullish Trend is underwayDouble Bottom has been formed on daily charts of Infosys hinting a bullish trend in coming days. Weekly trend is also UP.
But in short term, a bearish divergence is formed which can lead to a small correction/sideways movement in coming days and then it may continue it's long term bullish trend.
Buy is suggested post correction.
Will Nifty IT Continue the pattern for 8800 as Targets ??For Last 2 years NiftyIT is in a pattern where it Falls then Retraces 0.618 then moves back to 1.27 extension of the previous fall, Currently Nifty IT is at a very crucial point as it is at 0.618 retracement and at a long term downtrend line...
Shorts can be made for the targets of 8800...
Infosys Ltd
Infosys Weekly chart worth to add in watchlist
The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.
Infosys - The Big Short (Seller Wins)It is been observed that the price action is consolidating in between 1060-1010 levels for past 55 days on a daily chart. It is 11 weeks and almost 3 months. This is called a Big consolidation and price war between buyers and sellers.
Now, the price action got that big breakout from the consolidation as it closes below strong support level of 1010. Therefore, it is indicating that sellers victory over buyers and now the price action shall move further down and continue it downtrending pattern.
It is a great opportunity to initiate,
Target: 985, 955, 935
Stoploss: 1050
Infosys : History Repeats, so soon ? Yeah !!With this rectangular range trade setup, its 8th rectangular range in last 10 days if I check my trading journal. Either Fx or Nifty 50 markets are offering us lots of ranging n breakout pattern trades for past two weeks. Yes, few of them failed but winners overshot losers,just like that. I'm looking out for this rectangular breakout in Infy and will be watching very closely for breakout any direction.
Happy Trading !