INFY this weekInfosys fall from resistance level, according to me it will be bullish from the very first support line i draw and go for a bullish run.it also make a bulish trend highs and lows ..i forgot to draw..i know you will caught it .....for this week this stock is bearish....so try to got short opportunities while trading & plss suggest me in comments which stocks analysis you want ......
Trade ideas
INFY BUYING ZONE ACTIVATED FOR SWING / SHORT TERM Buy Infy
Purely technical analysis and price action
Stock is making higher highs and higher lows . Gave a trendline breakout and having decent volume buying . Stock sustained above 200 Daily moving average and heading upwards . These parameters giving little conviction to go long for short term swing .
INFOSYS case studyINFOSYS AT 1590 levels is around strong supply zone,
Descending parallel channel resistance around 1610 levels
Horizontal resistance around 1602 to 1630 as per previous swing high levels,
Bearish divergence on RSI with respect to price,
Bearish wolf wave formation, where price are trading above the structure formation which indicate overbought situation ,
counter might face strong resistance in zone of 1600-1630 levels ,
which should be used to exit long position if any,
now fresh investment in this counter above 1670 levels on daily closing basis
Down side counter can give retracement till levels of 1500-1480 once reversal is confirmed.
Time to be cautious in this counter.
Infosys Analysis Based on angle trend infy will move 1900+ once breakout 1950 it will be move till 2300 - time period approx. 180days +++
good stock - buy on DIP
Note:
risk rewards and everything left to investor, whether, why & when to invest; I am sharing on my self interest for educational purpose -
INFY - Infosys Ltd - Intraday Levels for 28 Oct 2022INFY Intraday levels for Tomorrow..
Support and Resistance Zones - When price breaks the zone, Support zone will become Resistance and Resistance zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Infosys SHORTReasons for Short as follows:
1) Classic Head & Shoulder Breakdown Pattern
2) Price trading near 52 Week Low Zone
3) IT Sector is the Weakest and Leading the Bear Market
4) Global Recession means Slowdown in Revenue for these IT Companies
SELL Weakness
Stop Loss above 1420
Targets:
T1= 1320/ 1300
T2= 1250 ish zone
Head and shoulders in INFY 75m chartINFY 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.