INFY
Infy view: Sell on rise or sell below 631Infy
Cmp 759
Observations
- The stock has been in the uptrend again since Sept 2017
-interestingly we see the stock facing resistance again at blue trend line in Sept 2018
- on the upside 680 - 702 might act as potential resistance zone
- a weekly close below 631 might signal crack in the trend and open up doors for potential fall up to 555 [/b
Pattern gets invalidated if Infy gives a weekly close above 705
Take care...!!!
You can find links to Previous coverage on the stock below
INFY - a perfect buy on dips stockINFY - a perfect buy on dips stock - Any dips towards 580-540 zone must be seen as a buying opportunity.
Infy at Support hold it.SL is very near to entry pont and its rare phenomenon happen so watch it closely.
Infosys test support in falling channelInfosys is in a falling channel and is testing support at 635.
Buy at 645 with at stoploss around 635 Target 684
Infy Dividend Effect Keep watch..Infy Dividend Effect Keep watch...
Do not enter before confirmation and also
consider global factor
MUST watch RETEST
In dividend Effect break the support line so wait retest
NIFTY IT (CNXIT) trendline on historical chartIt has been observed on NIFTY IT CNXIT weekly chart that a rising trend line has been acting as good support and resistance on several occasions.
PS: Request you to use this trend line setup as a supplement to your analysis before taking any position.
Thanks,
tRex
Jurassic Park
Wipro - Weaker of the whole Tech packWe can all agree that Wipro is a fundamentally weak stock in all of frontline Tech stocks.
Stock has been moving up following the trend line during corrections making newer highs everytime it corrects. That seems to have paused at 330 which is also a big resistance zone which was also the highs made before 2000 tech bubble burst.
Stock may retest the trend line again but will it survive this correction? Only time will tell...
MyAlgo : xMRSI-Progresser: Intraday : 11Oct-INFY-ShortBased on my xMRSI-Progresser predictive trading methodologies, its going to be a RED candle on 11-Oct-2018 for INFY
Sell Below(5Min candle close): 698.7 for targets -
T1: 693.5
T2: 690.3
T3: 687
SL: 704.3
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
MONTHLY NIFTY LEVELS october series i will look for long side and will definitely try to go long and instead of shorts ,for this month ....
INFOSYS SHORTINFOSYS IS SELL FOR TARGETS OF 590-550.
REASONS:
1. IT IS AT A UPPER DIAGONAL OF A RISING WEDGE (BEARISH PATTERN).
2. 5TH WAVE OF DOMINANT WAVE IS COMPLETED. NOW CORRECTIVE WAVES WILL START.
STOPLOSS: "ABOVE SWING HIGH OR AS PER RISK BEARING CAPACITY"
TECHM october series importanr levels I see some sort of correction in it sector to balance the one way rally ... but the correction will again get over soon looking at the earning season into picture as well as the usd inr depriciation will generate better revenue story for these stocks like tcs infy etc
Infosys - BreakoutInfosys went above its previous resistance of 744.
Buy at 745 Stoploss 732 Target 780
Infosysy - Trendline BreakdownInfosys has been in a channel for a long time and has been making higher highs.
That trend has been violated after the last correction and now its attempting a retest.
Now is a time to sell and see if this a beginning of a new downtrend.
Sell Infys at 728 730 levels with a closing Stoploss above 742
Targets are 702 692 680 (Positional)
InofsysInfy can test 717 and 712. Cmp 731 Sl 735.
Selling near resistance. if stock trades abv 732 and close on 1 hour chart. Setup is invalid
InfosysIny - Can test 708 below 719.Buy abv 721 for 733.
We have some news on payment to CFO.so be cautious.
Rally over for Infosys?Stock has been following the range bound uptrend which seems to be stalling at 745 750 levels.
Given the sharp recovery in rupee IT stocks may see selling pressure at higher levels.
Sell below 737 Stoploss 747 target 721
Tech stocks may be in for another rallyApplied Fibonacci levels to IT index.
Index seems to be closing above it short term resistance oh 16086 level. A strong breakout above previous highs of 16130 will be a buying opportunity in Tech stocks like Techm Infy TCS Wipro Mindtree which have been strong.
Weaker rupee may be a trigger. But one should wait for a breakout and not hurry since they have rallied a lot this year.
