Infyanalysis
INFY - UPDATED LEVELS /Analysis Infy closes above the 730 levels, that it had been resisting from past many weeks with a big Bull candle that opens near its low and closes near its high with huge volume.
Higher high , high low Structure of the stock is maintained , hence any dip in the stock might get absorbed.
There will be many who missed the move and would like to enter in the stock, but buying a stock at any levels is not a good idea, so we have to keep our levels ready and wait for the stock to test it, though it requires patience and you might feel you will miss the move... but trust me patience always pays you well.
My mantra for flawless entry :-
Keep the levels ready
Have Patience
Pull the trigger at right time
Now as per my analysis 700 -685 is going to be good support.
Stop will be same at 650 levels.
INFY - RESISTING AND RESISTING AT 730715- 730 turn out to be a solid resistance for the stock , stock is resisting this zone from past many weeks.
I am not bearish on the stock , as long as it trading trading above 650 levels.
So watch this zone , or set an alert to keep this stock on radar.
Because breakout can trigger a good good rally in the stock.
INFY Stock Price and Chart AnalysisInfy is currently trading at 721 levels, and has entered a weekly resistance zone of 720 -730 levels.
The stock was not able to past through the zone from past 8 weeks.
If the stock closes above this on weekly basis , which will open up new levels on the upside , and the immediate levels are 780 and 840 .
Major support for the stock stands at 650 levels.
INFY - Long Term/Medium/Short ViewFor me its a buy on dip stock for positional trading as long as its holding 650 levels on the downside.
Stock has been facing resistance around 715-720 levels from past one month but is able to sustain 695 - 700 levels from past 10 sessions.
Hence holding 690 levels can lead stock to 770+ levels on the upside.
Trend of the stock is on upside on all time-frames , thus following are the levels that should be watched.
Short term support 690
Medium term support 650
Long Term support 460- 500
INFY SHORT OPPORTUNITY INFY SHORT OPPORTUNITY IN COMMING DAYS.
Green dot line down trend marked
Red one temporary up move inside the green dotted channel.
INFY - Trading in a up-sloping channelStock in a slow up-move, would take time reaching its target.
680- 650 turns out to be a good support zone, from where stock manages to bounce most of the time.
PREPARE NEXT WEEK FOR #PROFITABLE ENTRIES - INFY - 30MN - INDIAThank you for your likes! Please share to benefit everyone! Much appreciated!
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High potential of profitable entries next week as the INFY INFOSYS price has returned to its historical super strong line .
This line has been reverting from powerful support to massive resistance line.
The market has a high probability to go away from this actual point. This elastic movement could lead in the future to a new type of trend.
Above the price, the first resistance R' which can become a pullback point . Same for under, the support S' which can be a point of pullback up . This showing a new ranging trend of the INFY.
Breaks might happen:
- If the market breaks the S' support line , we could observe a nice downtrend before observing a recovery back to the black center line.
- If the market breaks the R' resistance line , we could see the market first testing the previous uptrend support line which will become a potential pullback zone.
Keep in mind:
The volume down there is important and has to be higher than the dotted line traced i n order to make a decisio n having better probability to succeed.
INFY - ABCD PATTERNStock looks good, as long as it is holding 666 levels, it is heading towards 750 levels.
Trade Type : Positional
TRGT :750
Stop 666, trail stop 674
Minor Resistance at 700 levels, above which it can zoom fast.
Do not follow blindly, please do your own research.
INFY - Long term is still upInfy bounced from the long term trend line .
This Trend-line has 4 touch points, any tend-line having more than 3 touches are considered as important and the support it provides works as a major support.
Since i work on harmonics i can see in Sep 2017, stock formed cypher pattern and the prices zooms from its prz zone and this time stock again formed cypher pattern and bounced from its support zone meaning its following the same pattern.
From recent lows stock is already up by 38% and possibly it could spendssome time consolidation before taking another flight.
When the whole market is in bears hand ,this stock refuses to fall and bounces with much strength , all this suggesting that it could be a leader in the upcoming bull market.
INFY- WEEKLY- GARTLEY - SHORThi, check the Weekly chart for INFOSYS.
it has nicely setup for a GARTLEY PATTERN. time to go short
INFY Coming In Supply ZoneInfy 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.
