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
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. 👍
infy breakout on day chart after long consolitation..,
buy at current market price keep stop below 1525 day close basis target of 1660
the pattern is BOX or we can call at as triple bottom..
SL hunting also there ..,if hunting in stock it will move fast & furious
keep watch this for long side
INFOSYS looks bullish, Fresh Trendline breakout is seen yesterday (20th July 2022) and Today Retested the previous Resistance which acted as support and now ready to head towards higher levels. I am Looking to Go Long on INFY Future around Current Price 1518- 1520 With Stoploss 1495 And Expecting Targets of 1550/ 1580 in the next 1-3 Trading sessions.
After a Trendline Breakout and retest, Seems like it is ready for a up move.
Since market is not giving a clear direction, it is preferred to have a strict SL of 1430.
Target for this trade are 1515(RR 1:1.8).
Target and SL are small because Nifty is consolidating in a range from last 4 trading sessions also facing resistance at 200EMA(daily TF).
An ascending triangle is a chart pattern used in technical analysis. ...
Increasing volume helps to confirm the breakout, as it shows rising interest as the price moves out of the pattern. ...
Volume tends to be stronger during trending periods than during consolidation periods.
As one can see, there is a bullish harami pattern in nifty which means one can go long in INFY keeping the stoploss below mother red candle low or 1400 as per your risk appetite, with a target of 1540 which is almost 1:2 RR.
Be quick and agile in booking your profits as this is still in a downtrend and the global scenario is still the same.
There is positive RSI...