Where is Nifty headed? Will it hold above 17,100? Or is it likely to break the 17k mark owing to weakness by Infy's results?
INFY is going down in Channel expecting wave 5 to go near 1354 & then 1278. if the price breaks the invalidation level (1465) then the whole markings are invalid.
INFY 75m chart has completed head and shoulders pattern and has given a breakout today with above average volume. The price action is bullish and we can look for long opportunities on Thursday when the market opens after a day off. Any retracement to breakout zone of 1415 can be a good opportunity to go long with targets of 1445/1470/1495.
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When MACD line will cross signal line and RSI > 40 on daily chart. Buy signal
1) The stock is at a support zone from where it gave a new high 2) RSI is oversold with low of 19.43 3) The current hourly candle has also closed within the bollinger band. Very high probability that the stock might cover the gap of 1520
v shape formed , stoploss very less taget upside 20 point or not intraday get or not ?
This isn't buying recommendation... I'm just validating / sharing my analysis with community of traders. Although, I have bearish view on Infy because of recent news and thoughts of CEO about the employees. ;) Well, Targets are %age of removal of total investment. 25% removal at every target. And shifting S/L to recent target. 👍
Key highlights: ⚡️ Consolidating in the weekly demand zone for the last 4 months. ⚡️ Wyckoff accumulation schematic on the daily time frame. ⚡️ The market structure started shifting after the establishment of the low on 17 July. Hence, it is an important low. ⚡️ The logical short-term target is near the 1730 zone. If the price manages to push above the range...
IT index and IT stocks was pulling nifty down & we are observing the downtrend since Jan 22 but looking like we are approaching to an end to it. A series of up move is expected in this Index. On an Hourly TF index is bullish above 28k, On a 4 Hr TF index is bullish above 28.5k On a daily TF index is bullish above 29k On a Daily TF index is bullish above...
Bulls struggled to hold the indices today, but do you feel this may be the start to a broader pullback? I don't feel that way, not yet at least.
Do you feel the markets are likely to continue to remain in the control of bulls?
Monthly TimeFrame : OverSold zone Weekly TimeFrame : Accumulation Daily TimeFrame : At a Orderblock
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Looks like IT index 4th wave may have just ended. Now big 5th wave can come.. Keep stop loss 30400 Target can be 24000 to 22500.. Risk reward is super. cmp 29900
Infosys CMP is at Resistance level. Bearish reversal pattern (Hanging man pattern) can be seen and the RSI indicator also indicates the overbought zone. We can expect an trend reversal from here. *Educational purpose only!
Infy- It formed clear Tripple Bottom and also Ascending Triangle Which shows its ready for the up move as market as Target Disc- Only for Learning Purpose and not a trading Recommendation.