Price is building up above the SMA50 level with improved volumes. It is certainly a clear flag formation breakout as well.
With the gap-up pattern, we expect the target will be envisaged around US$16.09.
Meanwhile, support will be located around US$15.13, US$14.82 and US$14.60.
The stock has seen Rising channel breakdown pattern multiple times on both weekly and daily charts. The initial breakdown from long term trend was seen at 1020 levels and the stock fell to 900 levels and retested the 1020 levels and now has created a fresh rising channel breakdown at 950 level and probably may drift down to 850-870 levels in next few weeks
generated buy signals in INFY. Entries, exits , TP
DAILY FINANCIAL WISDOM: Always remember, trading is simple. It's the trader who makes it more difficult than it has to be.
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'
Infosys after sharp fall from ending diagonal might retrace upto 50% of fall in the form of B wave..before resuming downtrend again...SL is recent low of 1007..tgt 1140
Infosys 1.04% forming a Symmetrical Triangle on hourly chart. The price action shall breakout from the triangle by tomorrow. Keep a good eye on it to gain out early opportunity out of it.
IT is anyways looking weak and it will lead the correction for Indian market, whenever it starts. I expect Infosys to lead the pack, it should find support , right at 938, which is also 200WMA.
INR is looking strong and it should provide the impetus for the fall.
Pairing this short with a long in LUPIN, will be a good strategy in my mind.
