Infosys [long] anticipating a push to 684Looks 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.
INFY
TCS chart viewTCS
CMP 1907
Below 1950 the chart setup suggests weakness in stock price.
It may come down to 1800 and could possibly even drag down to 1600 in the coming weeks/ months.
A close above 1980 may invalidate the chart pattern.
Stay cautious and trade accordingly.
Infy viewInfosys
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 for a rise in stock price up to 701
Take care and safe trading...!!!
Infosys - Elliot Wave PerspectiveInfosys 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.
POSITIONAL TRADE IN INFY DEC FUTPOSITIONAL TRADE IN INFY
DEC FUT
BUY@666.5
STOP@661.5
TARGET@686.6
LOT:1200
QTY:1
RRR=1:4
CONDITIONAL LONG TRADE IN INFY DEC FUTCONDITIONAL LONG TRADE IN INFY
WAIT FOR A CLOSE ABOVE 689
DEC FUT TRADE
BUY@690(ABOVE)
STOP@675
TARGET@720
LOT:1200
QTY:1
INFY - Narrowing Pattern BreakdownInfosys has broken down out of a narrowing range.
Sell at 645 Stoploss 654 Target 637 633
wipro positional viewthe stock is no ones favourite now , been India ' s biggest wealth maker , now set for something huge huge enough to surprise !!!
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 ....
