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.
Trade ideas
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).
Infosys on a technical boomNSE: INFY
If Breaks Then The Targets could be Taken at 1520
Time Frame :- 1 Hour
Patterns Name :- Infysos
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Based on Your Own Risk this is only to Show you the Current Pattern
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INFY RSI DIVERGENCEInfosys is making a series of lower highs and lower lows for the past 70 days, whereas the RSI is continuously making higher highs and lower lows.
This divergence can be spotted easily on the Daily Timeframe.
Also, we can see a bullish closing on weekly basis.
We can see an upside momentum in this stock soon.
1420 level can be taken as a stop loss
1450-1470 is a good entry point.
!!! This is not an investment advice and do your own due diligence before investing/trading on any script !!!
!!! This post is only for educational purposes and not advising anyone to trade on behalf of this trade !!!
Infy.Different entry stoploss and target have been given in star pattern if it breaks the resistance then we can achieve to reach this target and tomorrow if market is in off trend on mondayDifferent entry stoploss and target have been given in star pattern if it breaks the resistance then we can achieve to reach this target and tomorrow if market is in off trend on monday