1. Infosys made a low of 1068 on 29/02/2016 and made a high of 1268 on 18/04/16 , drawing fibonacci retracements from these levels , we find that stock is retracing from 1168 that is 50 % retracement .
2. Loooking at the chart of Infosys it looks like it is holding the support by sustaining above the trendline drawn.
3. on Wednesday , Infosys formed a...
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
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
2618 Trade setup stands for two key things,
1. Double top confirmation
2. 61.8 Retracement
Both the above conditions are fulfilled and in my opinion it should go down to 1020 levels.
Key breakout will be at Target 1
The company will report this week, and the chart is within the Hchannel and last week held the support and back in the channel. Realtime alert go www.2waytrading.com
