Hello Traders! :)
Here's a Trade Idea Forecast for INFOSYS
I have been bearish on INFOSYS from the past few months when it broke that trendline .
Now as per the current scenario INFOSYS is moving to a rejection with bearish price action, So i am expecting it to get rejected from that level i have mentioned in the chart which is around 758-760.
1.After a sharp fall from 832 levels nifty has tested the 754 levels.
2.after a pullback at 61.8% levels again downside is possible
3.price has resistance of 200 EMA at 800 levels
4.Price has resistance of horizontal line at 800 levels.
5.Risk Reward is more than 1:2.5
Sell at 795-800 levels Stoploss 821
Guys INFY Sell opportunity to keep watch if the break up sell higher high or break down sell Tp mentioned in charts
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
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NSE:INFY is unable to close above 1190 and facing resistance....today also it has printed a bearish pinbar....i will look to short tomorrow..around 1185-1190 with stop loss of 1200 for immidiate target of 1150.