Infy seems to be moderately bullish, as most of the indicators are signalling the upside move but Bollinger Band shows lack of momentum hence the move may not be much larger but still, I think if it upside move is seen the momentum may increase and then it will turn out to be a good move but for 6 DEC let us be moderately bullish only .
RSI showed bearish divergence on daily chart...
Elliot wave showed completion of correction, now will to make (1) wave.
Follow me on Twitter @shubhamjain1499
comment | Like |
As seen in charts TRIANGULAR BREAKOUT given by the INFOSYS,1hr chart.
one can BUY(LONG) @ 714.55 With Target of 759.6 & would be SL of 684 (hourly closing).
Which brings 1:1.5 Risk Reward Ratio.
Infosys took resistance at a very strong pivot point and fell back. The stock is still into down trend and the move up may be classified as a mere pullback. The last bar is a bear bar. A small support is at 694 levels, breaking this will result in sell off and infy may travel down towards 656 zones.
NSE:INFY
Infosys Ltd Long @ Rs. 700 or below
Entry Rs. 700 or Below
Target Rs. 779.85
SL Rs. 665
Infosys is currently at Rs. 698.1 closing price ,which is above 1 hr demand zone which is also supported by weekly demand zone. It has also novoice GAP which was created last month.
CMP is leaving the demand zone after touching it on 22.11. So probability is...
Key Levels for INFOSYS are : t.me - JOIN TELEGRAM CHANNEL
Upper Breakout~700
First Target~ 704.70
Interim Resistance~713
Final Resistance~721.80
**Lower Levels**
Lower Breakout~ 687
First Target~680
Interim Support~674.40
Final Support~665.35
Please trade with caution and consult your financial adviser before trading. You can also...
IT WAS TRADING IN A WEDGE PATTERN NOW IT HAS BEEN BROKEN ON THE DOWNSIDE TARGET FOR SHORT SIDE IS 674 FINAL IS 669 FIRST LET IT CLOSE BELOW 687.10 ON CLOSING BASIS
NOTE: FOR EDUCATION ONLY
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation. Its segments are Financial Services and Insurance (FSI), Manufacturing and Hi-tech (MFG & Hi-TECH), Energy & utilities, Communication and Services (ECS), Retail, Consumer packaged goods and Logistics (RCL), and Life Sciences and Healthcare (LSH).
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
INFY
