INFY trade ideas
INFOSYSNSE:INFY is a very strong fundamental IT company.
recently it is underperforming since last 10 months, but on the daily chart frame it has created a beautiful inverse head and shoulder pattern, which is looking very promising.
one can make position in this stock for the targets of 1960 in next 3 to 6 months.
Head and Shoulder -A head and shoulders pattern is a technical indicator with a chart pattern of three peaks, where the outer two are close in height, and the middle is the highest.
-A head and shoulders pattern—considered one of the most reliable trend reversal patterns—is a chart formation that predicts a bullish-to-bearish trend reversal.
-An inverse head and shoulders pattern predicts a bearish-to-bullish trend.
-The neckline rests at the support or resistance lines, depending on the pattern direction.
Script = Infosys
Time Frame = 1 Day
INFOSYS BREAKOUT SWING TRADE - INVERTED HEAD AND SHOULDERSGood day :)
NIFTY IT has given a range breakout with a strong Marubozu open candle.
Most of the IT stocks are performing really good and most of them are giving breakouts.
I have identified one of the most strongest stocks of the IT sector which holds a weightage of more than 7% in Nifty. The stock is INFOSYS.
This stock has been in a channel since May 2022. In the recent support at the base of channel , the stock has created a Inverted Head and Shoulder pattern which signals a bullish trend in the stock.
Stock has broken the neckline with a strong bull candle. We can take a long position on retest of neckline and can expect good targets.
Investors typically enter into a long position when the price rises above the resistance of the neckline and the stock has already proved this by breaking out with a strong bullish candle.
Huge volume spike can be seen at breakout which confirms it as a healthy breakout.
Resistances are identified as Target 1 and Target 2 giving a Risk Reward Ration of 1:1.5 & 1:3 respectively
The probability of targets being hit increases as the stock is in a channel.
Disclosure : I am not SEBI registered.The information provided here is for education purposes only.I will not be responsible for any of your profit/loss with this channel suggestions.Consult your financial advisor before taking any decisions.
Infosys Stock Confirm Targets 2023 Infosys Chart Analysis and Confirm Targets with Demand and Supply Zones
Infosysy Made All Time High 1953 on January 2022 , and Break Support zone of 1620 - 1656 now same Support Zone Act as a Resistance Zone
As Nifty also Break Major Support 25 jan 2023 If Downtrend will Continue then Targets For Infosys Stock are As Given Below .
First Target - 1357 - 1312
Second Target - 1167 - 1152
As we Know US and UK are the major Customer For Infosys and All IT sector and Now Days Due to High Inflation in US and UK its affecting on IT sector , Keep Eye on INFOSYS .
Note - If you want any Chart Analysis for any Time Frame Msg me on Trading View I will Try my Best . Thank you . Please Share Our Ideas to Support Us .
Infy short below 1482Infy looking good to short below 1482 level, it has taken support multiple times, if support gets break then can see gap fill till 1442. Please note I am not SEBI certified financial advisor. This is just my view pls take advice from experienced and certified financial advisor before taking trade.