Trade ideas
Buy out the dip of 1350 in InfosysNSE:INFY is one the leading IT consultancy company which does not need any description. Infy recently broke 1360 levels. Investors might add this scrip in their portfolio at current levels. Also one can average out if we see 1300 levels.
No chart patterns are favourable
Nothing so called trend reversal
This is an effect of unfavourable market conditions
The rising dollar index
This might soon settle in near time and we might see 20% upside i.e 1600 levels. before the end of this year
INFOSYS .Head and shoulder breakdown.Obviously appreciation of dollar dxy is not helping IT stocks
as there is immence pressure due to economic out look in US.
Our IT stocks are just the reflecting the sentiment prevailing in US.
Though our banking stocks exhibiting lot more resilence our IT stocks are not.
There is clear head and shoulder breakdown has taken place in infosys.
Yesterday in Nasdaq it has witnessed selling.
Probable target shown in the chart.
This is my study not any trading recommendation.
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InfyPrice is consolidating within small range. Formation of symmetrical triangle, bear flag is seen in the chart.
Plan A : Sustaining 1395 - 1405 can make the price to move towards 1420, 1440 and it have to sustain 1440 to move up further.
Plan B : Shorting at 1386, when there is bearish sign for the move towards 1374,1360.
Plan C : Understanding the trend strength and trade if the price is moving within the range 1387 - 1405.
Always have plans for different market movement, so that adapting it will become easy.
Double bottom patternThis isn't buying recommendation... I'm just validating / sharing my analysis with community of traders.
Although, I have bearish view on Infy because of recent news and thoughts of CEO about the employees. ;)
Well, Targets are %age of removal of total investment. 25% removal at every target. And shifting S/L to recent target. 👍
INFOSYS (HEAD & SHOULDER BREAK DOWN)INFOSYS
On Daily Basis Time Frame the Stock is already in Bearish Mode and Today it has given a Good Break Down of Head & Shoulder Pattern which shows that Stock is going to fall further.
So as per Chart the Stock looks in Bearish mode and can be shorted as per the levels given below:
CMP - 1432.80 or SoR 1445
Target 1 - 1375
Target 2 - 1313
Target 3 - 1251
SL - 1475
Time Frame - Short to Medium Term
All charts posted here are only for EDUCATIONAL PURPOSE
Before entering into any Trade / Investment Position kindly consult your Financial Advisor