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.
Kindly analyse on your own .....
Few Clarifications ....
If Wave 1 is Diagonal Then Wave 5 is Not . So ,Wave 5 Can be wave 1 of wave 3 ,Thats most suitable.
Or This is Just A Zigzag combination correction.
995 Resistance (Above that you can give a thought that this correction is finished ).
Downtrend il continue untill its inside this channel,Every bounce at...
Wait for the breakout to the downside before shorting.
Don't miss the dip to buy as well..
Great stock to keep in portfolio.
It will not go straight away to break the top, but that's the cheapest you might get 'infy'
It is been observed that the price action is consolidating in between 1060-1010 levels for past 55 days on a daily chart. It is 11 weeks and almost 3 months. This is called a Big consolidation and price war between buyers and sellers.
Now, the price action got that big breakout from the consolidation as it closes below strong support level of 1010. Therefore, it...
Going above 1058 -likely Infy goes to the zone 1067-169 & beyond that zone for 1074-1075+ but likely there will be some retracement which will put infy to test the lows of 1035-1040 or 1020-125 zone before it rallies again but be careful -if it goes below 1020- its an alarm bell & going 1010-critical level -which should not break else -there could be heavy...
Trading@1050
INFY looks for the 5th wave up from lows@1010- likely to complete in 1058 & going beyond 1060 can kiss the zone 1067-1069 where the 5th wave travels 61.8% of the 1-3 wave distance.
Once done- we will look for correction on result day
There is a small channel which can resist the up move & if stops in the zone 1080-1090 which is channel top & any confirmation of the downside move at respective ends can be taken as a bearish view with that recent swing high as stop & initial target -1010 & Going Below 1010-1000 Zone - H&S Pattern with truncated right shoulder gets activated
Target Calculation...
In the daily chard Inforsys is about the complete the wave a of the corrective sequence. It is at the last phase of finishing the fifth wave A in a ending diagonal. One can expect the corrective wave B which can retrace 56% of wave A as shown. In the short term ne can look for long intraday positions. In the medium term one can ride the wave C in the short side.
Infosys forming a symmetrical triangle breakout on hourly chart. It shall breakout from it tomorrow. Keep a good eye on it to gain out of this opportunity.
