it tested the resistance and fell today , made an inside bar . OI data tells huge number of call options added and put options decreased which means more people are bearish on so tomorrow short it if it breaks PDL with a SL at PDH
Go Short for Infosys - It reaches 630 - 632 level in near term to rebounce toward upper side. As rupee strengthens. IT stocks(Infosys, TCS) keep falling and gets weaker.
REMEMBER - Always follow risk management and position sizing (how many stocks to buy) before taking trade which will save you. Be cool while trading and Happy Trading. Otherwise don't trade.
Almost both targets are made given previously. Today a Hammer Candlestick has been made depicting indecision.
OI Table may give us some idea. 620 Put is the highest OI, second highest OI is 670-- strong uptrend. 700 Call is the third which is posing as the immediate hurdle. Above 700,720 is the target.
Infosys has been in a channel for last 2 months.
It broke out of that channel yesterday and closed above it. A weekly closing above the channel may trigger a short covering rally towards 684 700 levels.
We may like to stick to the same objective study with slight clarity that since the first resistance is close by, there may be some profit booking. So if price makes some little correction towards the breakout line, we may reenter long position with an SL at the breakout level.
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.
NSE:INFY
