If you ask me, it looks bearish as it broke resistance and failed retest, then retested new resistance and now validated it and remains below 7330.
Earnings are also in and the emotion is bearish.
All levels in the chart.
High OI at 7000. Once that is broken, we could see price drop fast.
MFI pointing down.
I would target 6850, and trail below.
- The set up has a target of 1496-1508 levels on the down side below which there could be further extension fall towards 1453-1465
- on the upside I would be cautious if Infy trades above 1578
- note I do have my bias in Infy
so do your due...
Last 2 days had decent volume and price has broken support clearly and decisively.
New Range - (1430 - 1540 - 1620 - 1680)
MFI decreasing rapidly
Rising volatility (ATR), also check IV
IF breaks back above 1685 then this view will need modification.
all studies explained in the chart
just Buy and hold
period 1-3 month
🎲fundamentals not bad.
🎲can see a breakout in this session.
study well then invest🙏
like |🔹| comment |🔹| support
I am in this Swing faillure pattern trade right now i have seen 2 steps of confirmation. the 3rd one is change of market structure and the SFP is completely confirmed.
my next trade idea is to short the weekly level that is very strong. in confluence with the Vwap + VAL Of fixed range ( Not marked out). i will enter into a short when i see the proper reaction...
🍁 R Systems International 🍁
✔✔ buy @110-114 range
sl below 108
trgt 127-135 🎯🎯
period 1-4 months🌸
need patience guys
reaosons for this entry
🧩chart looks like accumulation
🧩 minimised risk(low risk high benefit)
🧩stock in a good support zone
🧩publishing good results
🧩expecting good movement in IT ZzZoon
🧩delivery volume also increasing