IOY trade ideas
INFY - Possible Rebound in the coming week ?Key highlights:
1. Approaching 2 day demand zone
2. Bullish market structure on HTF
3. Continuous support from 200 MA in the recent past
4. Just in the flip zone
5. Psychological level of 1800
Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
NSE Certified Technical & Fundamental Analyst
5 MONTH CONSOLIDATION BREAKOUT On the weekly chart, the stock has decisively broken out its five months consolidation formation on a closing basis
This breakout is accompanied with huge volumes indicating increased participation on rally
The stock was observed from its 20, 50.and 100 Day SMA support zone which reconfirm bullish sentiments
The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in bullish mode which supports rising strength as well as momentum.
The above analysis indicate an up side of 1885-1925 levels
Infy AnalysisOne of my fav stock, Infy gave consistent great returns for a long time and now its under Consolidation.
As per the trendline the Stock shouldve crossed 2000 by now. It'll happen sooner.
Volume breakout has happened now and we can expect the rally to continue once it crosses its resistance at 1784.
Great support at 1670. currently at its support level 1715. keep on radar and watch for entrypoint.
[ INTRADAY ] INFY LONG BET
risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
INFY strides ahead .please recall my postsafter declare of its result and profit booking restrained it.
now it appears buying taking place.
in Nasdaq its all time high is more than at price it is trading here.
don't forget to like this post.
follow me to get updates.
please go through my previous posts for infy.
INFOSYS 4h wave pull back of final fifth wave.It has retraced 50 percent of 3 rd wave.
as long as it does no travel in to the territory of 1 st wave it is not invalidated(shown as black line in the chart)
may be it is an excellent opportunity to buy on another dip on Monday.
as risk and reward will be quite favorable.
its result is on 12 th.
don't forget to like this post and follow me to get updates.