Stock to Buy: Infosys (#INFY)
If you get it in pullback around 1600 level, after bullish rejection of the downward move (i.e. price falls back to 1600 level and then take a reversal to honor the 1600 as support), buy Infy above 1605 with SL: 1595.
The Risk-Reward can be 1:3.
09.02.22 , INFY, Trying To Give Breakout or Breakdown in Triangle Pattern. RSI Neutral But MACD Getting Stronger. Most Likely Will Go Upside as Global Cues are Positive. Keep Watch . NSE:INFY
Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above...
Infosys has closed below 200 EMA of 15 min time frame, the purple line is moderate demand zone , you can go short for a intraday trade if it breaks the zone. Check IT sector in the morning to add a little more confirmation to your trade. It will go down after breaking the zone , as it tries to fill the gap from 1720 to 1740. Place a proper stop-loss .
Infosys has completed an expanded flat correction. The current price action suggests that stock is rising up in an impulse manner having the first wave as leading diagonal. One should go long on current levels with the SL of 1655 for the target of 1780/1820
INFY :
Trading in rectangle pattern and taken good support in the daily time frame.
in 15 min TF, also taking support from the trendline. We may see once break resistance as per the chart.
This is for educational purposes only and my personal view. Please check from your end before entering in to trade.
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Stock is rising in an impulsive fashion , as wave 12345 with wave 4 as triangle. One should go long on cmp, with SL of 1547 for the minimum target of 1592 & above 1592 look for 1625/1655.
NOTE: wave 4 in an impulse suggests that trend is going to exhaust soon after a new high. One should be very careful and book profits early.
Price trading near all time high and after taking support from the trend line price rejected from the same levels in the last week and this week beginning itself it was broken and the price almost breaks the high.
Price is looking super bullish and expecting to set new all time high record for the week.
