1.After a sharp fall from 832 levels nifty has tested the 754 levels.
2.after a pullback at 61.8% levels again downside is possible
3.price has resistance of 200 EMA at 800 levels
4.Price has resistance of horizontal line at 800 levels.
5.Risk Reward is more than 1:2.5
Sell at 795-800 levels Stoploss 821
Had Bought the stock yesterday( Infy Long) as per the linked idea below.
Now moving stop loss at break even( Buying price of 815.70)
Even if it comes down i don't loose anything, but if it goes up i make some money.
Always respect the unpredictability of the markets and take the profits when they come.
Always keep your trading professional
INTRADAY SCALP FORMING
INFY HAS OPENED IN RED AND CONTINUED MOMENTUM SUGGESTING LARGE SELL ORDERS SITTING.
LOOKING OUT FOR SOME NICE REACTION TO GO SHORT from RED ZONE
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NSE:INFY long at 778.15 with SL 775.85 and three potential targets
Please Consult Your Financial Advisor Before Taking Any Decision
Always risk 1% of account size per trade, adjust the position size accordingly