infy at strong support on diagonal and horizontal support wait for the proper breakout or breakdown
Infosys is exactly at resistance of ascending channel. Looks like it may test 770 followed 756.
Round bottom formed in INFY and increasing volume in upswing. So may breakout on upside. Refer the chart.
For complete thought process behind this trade watch this vedio in comment
#INFY CMP 750 Buy above 760 Stop 710 Logic : Trend template + Cup pattern.
hi, check the Weekly chart for INFOSYS. it has nicely setup for a GARTLEY PATTERN. time to go short
Infy still bearish..possibly in A_B_C correction.. targets on the redline at 554 final bearish target at 500.
One of our open positions, the support line is clear and a stop loss is applied a $10.14
Infy has shown good rally since march of this year, But now price is coming in strong weekly supply zone which was formed in June 2016. 1270-1280 is strong sellers zone. I am expecting to correct the price in this zone.
NSE:INFY is currently trading in channel. Could be bought in range of 1148-1152. CMP 1154 INFY is having support at 1143. Target 1: 1175 Target 2: 1192 Target 3: 1220
Finally Infosys saga has turned the way we anticipated about a year ago ( check out the linked posts ). Now since you can not fool all the investors all the time, Rs. 13,000 crore buyback plan has been received by the investor the way it should have been! Why? Because the right time for buyback was many years back when clients of the major IT firms were so naive...
Nifty IT is following the textbook EW pattern. We are at the beginning of a fresh impulse of the last cycle wave 5. This wave should take us to all time highs. On smaller time frame we have already finished wave 1 of 5; obviously the next impulse (w3) would be much sharper. Index is susceptible to political news from US, so adhere to proper RM.
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'
INFY to DROP as long as it stays below 1110 and sustains below SL 1120 Target - 1010
As per my elliott wave analysis, Wave 5 is forming ending diagonal, which is at urge of breaking down. We may see a correction from here on that can go on for some few years. It is wise to take out your investments from this one and invest in something else that can provide you returns in few years. Day Traders/ Swing traders have great opportunity to short this...