INFYC trade ideas
INFY - LONG - 10% upside potentialINFY has given inverse head and shoulder pattern breakout at 1530-1540 levels.
Can look at initial target of 1680+ levels.
Usually this pattern is formed at the bottom on downtrend which depicts trend reversal, so it is good to buy INFY for investment as well for ~6 months horizon with recent high of 1900 as initial targets.
Inverse Head and Shoulder PatternThis is 1D timeframe.
Infosys have formed a inverse head and shoulder pattern with a morning star at bottom in head.
Last three days, 2 good bullish candles, but the volume is average so I need more confirmation to initate the trade.
Will wait to get a closing above 20th July candle with volume support.
Then I can target the 1660-1670 zone.
I can keep stoploss below neckline to gain good RR ratio.
This post is for information purpose only.
Major Resistance Breakout In Infy Daily ChartOn 20-07-2022, we can see breakout of recent resistance, Supporting to that now we can see good candle is forming , morning it retested its previous resistance , which now turned as support. For the confirmation it should close above 1526 level today(21-07-2022).
If you watch properly we can see head and shoulder pattern and its neck line also broken.
Which is supporting for upside movement.
But problem is only with its zone. Now it has a potential to reach 1554 range. If it broke that level properly then only we can see Upside. Gap may act as major resistance. Once it break that it will go till 1732 range.
This is just a view not recommendation to trade. Do your own analysis before taking trade.
NSE:INFY
Infy: Results, Chart set up and trading strategyInfy
With results round the corner, let us see important levels for the stock
- 1562-1565 is crucial level to watch out for
- 200 day EMA is currently around 1596
- 1618 is another important level on the upside which might act as resistance
- on the lower side it would be important for Infy to hold above 50 day EMA currently placed at 1498 level
Given the set up one may consider to sell 25 August 2022 expiry 1600 Call option. It provides yield potential of 9.5% approximately and covers risk for a rise in stock price up to 1622 till 25 Aug expiry.
Take care & safe trading....!!!
INFY may crosss the trend line.In the chart,pitch fork,channel,and trend lines have ben shown.
Infosys will be declaring its result on this Sunday.
It may touch and cross the uml of the pictch fork.
and may break the downward sloping trend line .
This is my analysis only not any trading recommendation.
some recovery of beaten down IT stocks are expected.
stochiastic just coming out of oversold zone.
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Infy - ConsolidationPrice is inbetween support & resistance. Usually when we see a triangle pattern price consolidation, we expect a break out, some times fail to notice the near by support/resistance.
Support zone is 1400 - 1410. Resistance zone is 1440 - 1450. At what level you have the advantage as a buyer? support zone. At what level you have advantage as a seller? Resistance zone. Can you buy or sell at the support/resistance ? No, after getting the confirmation only we can initiate the trade.
This is the analysis & the trading opportunities will be updated in live market. You can share your trading plan in comment section.
Swing Trade (Infosys)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).