As you can see, these are the areas, NSE:INFY has been trading in. I expect a downfall regarding the concerns related to US and upcoming earnings which might be weak. Here's my view on the chart.
It is been observed on the hourly and daily chart that the price action breaks below the descending triangle indicating a further move down towards the next resistance levels.
Target 1: 955
Stoploss: 975
RSI is bouncing of the bottom trend line.
RSI has to cross 50 level before we enter the market.
Buy signal will be generated as soon as RSI crosses 50 level
Script should be sold as soon as it reaches near top trendline in RSI.
If It breaks the top trendline than the scipt can be bought again.
Please follow money management rules
Infosys has made breakout, it is looking strong to go upward with a target of 1st resistance around 1063 in near term. traders may enter long in INFY upto 1063.
As seen in Infosys, the price is moving in a descending channel forming lower highs and lower lows, indicating down trend in the daily charts .
Lately, the price has resisted the upper channel and .5 Fibonacci retracement of the last swing is acting as resistance.
Also, there is negative reverse divergence making it all the more bearish.
Therefore, expecting the...
Ascending Triangle formation on Infy and showing bullish trend. EMA 50 on EOD at this level so once broken then price will hit the target.
Trade:
Buy above - 989
Target 1 - 999
Target 2 - 1009
Stop Loss - 973
Reward Points - 20
Risk Points - 16
Trading@1049
Isn't that amazing & exciting that Infy turns from 1010 which was updated as a good support zone on 19th Sep2016 update shown below
Its an early sign of reversal & we need watch for support zones 1040-1045 & 1020-1025 if holds & pushes up, then likely that will be the 2nd clue that INFY wants to fly in the open sky. We already had our 1st clue as...
Infosys Ltd. after breaking uptrend at 1175.00 it has been trading in down trend channel, it is technically looking weak and may see further down side as it has broken long term support also. Trade may go further short in infy with a target of between 840-800 in near term.
