INFY
Infosys being one of strong IT firm and very interesting to trade before its results. I'd like to post my analysis on this stock. Stock looks done with its correction for now and ready to retrace the correction.
Looking at below weekly chart, stock looks travelling in a channel and it is completed its correction with 5 wave structure from 1168. For now it looks it is ready to retrace the fall upside making an inside weekly bar.
Stock looks having its 200 DEMA and previous swing high is falling in the range of 1031-1032.
One can by the stock at CMP with previous swing low 932 as SL for immediate targets of 1016/1030.
Stock trading above 1031 it can make 1080 to 1120 levels. We are expecting Infy results on 21st of this month.
Infosys being one of strong IT firm and very interesting to trade before its results. I'd like to post my analysis on this stock. Stock looks done with its correction for now and ready to retrace the correction.
Looking at below weekly chart, stock looks travelling in a channel and it is completed its correction with 5 wave structure from 1168. For now it looks it is ready to retrace the fall upside making an inside weekly bar.
Stock looks having its 200 DEMA and previous swing high is falling in the range of 1031-1032.
One can by the stock at CMP with previous swing low 932 as SL for immediate targets of 1016/1030.
Stock trading above 1031 it can make 1080 to 1120 levels. We are expecting Infy results on 21st of this month.
Infy moved as we expected. Hope you all enjoyed rally in Infy.
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