INFY - POSSIBLE MOVE ANALYSIS: INFY, CMP @ 1509 - LONG & SHORT TGTs and SL are in the Chart. FOR BOTH BREAKOUT or BREAK DOWN, STRONG CLOSING CANDLE IS MUST.
Am neutral because, this is ascending triangle pattern with higher Lows but today the Price action has not respected 50/200EMA. This is for Educational purpose.
INFY trade ideas
will infy crash 10% cause of selling in us market?NSE:INFY if #infosys breaks daily support of 1365/1345, then only we can expect a fall till weekly buy area of 1250 range zone, if #infy does open 10% down , then it wil be opening at the weekly buying zone, dont rush to buy or invest unless weekly buy zone holds infy fall, if weekly zone breaks then avoid infy for investing purposes.
TIME FOR ACCUMULATIONInteresting quarterly results came .
1. As expected due to global issues results were affected ,
2.Profit declined quarterly and marginally increased yearly still
this major fall came due to order book .
3.Still this price action comes as a blessing for investors and even for swing traders
4.The price has come in a demand zone ,
5.Short term price target Rs 1340 - Rs 1450.
6.Rsi in oversold zone
START ACCUMULATING THIS GEM OF A SHARE FOR DISCOUNTED PRICE
Infosys Crash 11%, 35% down since ATHInfosys Crash 11%, 35% down since ATH
Trend : Bearish
Fundamentals : Weak Quarter results, Outlook Downgrade by Nomura and CITI Research
Strong Resistance : 1350-1450,
Support : 1150-1100
Trading Zone : 1350-1150..
Daily chart formed Hammer, invalid below 1180
Accumulation Zone for long term Holding, SIP Level - 900-1300
INFY breached the VWAP from COVID low of 2020INFY - Average buyer from the lows of Covid (Mar 2020) is losing money for the first time as today price breached & is trading below the Volume Weighted Average Price (VWAP - 1290.65) since that low. Surely, that is not good for the stock despite a bullish candle close, on a huge gap-down.
Only personal analysis. No recommendation.
#INFY - is it heading much down level Infy on weekly time frame has formed a weekly double top and got rejected at island reversal gap which it has formed post April'2022 result session.
It has already given a neckline breakdown of weekly double top as well as follow through closing of the confirmation candle and potential fibo target using couple of harmonic pattern suggest much downside level before any reversal is seen here. Longs are advised to caution here.