It is been observed that the price action formed a bullish hammer candlestick pattern at the trending up channel indicating a further move up. It took a strong support at 1000 levels.
Double 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.
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 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.
Symmetric Triangle on Infy and either way to go.
Note : Please trade with cautions, due to result.
Make or Break
Levels to Make:
Level 1 - 1028
Level 2 - 1052
Levels to Break:
Level 1 - 945
Level 2 - 925
It is been observed on the hourly and daily chart that the price action breaks below the descending triangle indicating a further move down towards the next resistance levels.
Target 1: 955
Ascending Triangle formation on Infy and showing bullish trend. EMA 50 on EOD at this level so once broken then price will hit the target.
Buy above - 989
Target 1 - 999
Target 2 - 1009
Stop Loss - 973
Reward Points - 20
Risk Points - 16
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...
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...