INFY trade ideas
Infosys (Ready for a Breakaway ?)Infosys has been consolidating in a certain range now and has formed a Triangle formation, which is on the verge of a completion. A breakout on either side is highly possible as soon as tomorrow. The yellow lines can be treated as targets, even though there are certain other levels to watch out but the rally should be strong enough. They can be treated as Target 1.
With the Other IT stocks, giving a breakaway move and a pretty strong one is it time for Infosys to do the same ?
INFY-THE PERFECT OPPORTUNITY TO GET AN UPPER HAND OVER BEARS?INFOSYS has broken a small trendline resistance of 683 and managed to give a closing above 690,things would be in total control for bulls if there is a closing above 700 for a target of 725/745 because the most important thing is that infosys today filled its island reversal gap and was able to sustain that gap on upper side which was missing in earlier moves.