It seems like much of the good news has been priced into the Infosys stock. Appointment of Mr. Vishal Sikka as CEO brought much needed fresh air into the culture and stock responded with enthusiasm. But as usual, after the initial exuberance wanes, investor demands not just good future projections but implementation and execution too. Nothing against the stock...
INFY IS FORMING A RAISING WEDGE. CREATE SHORTS AT UPPER CHANNEL AND CLOSELY WATCH FOR THE LOWER TREND LINE. FOR NOW ONE CAN SIT ON SHORTS AS THE MOMENTUM IS DYING
Bearish, below the 100 SMA on the daily.
INFY expected to open at 34.40 for a Retest Gap. To learn to trade this strategy for free, go to www.RealLifeTrading.com