INFY <> Correction before a healthy move to 1574RSI : Over bought
Volatility : Going down.
Infy is probably loosing momentum and should test support in the range of 1400 - 1450 for a healthy upward moment of 1574 - 1620.
If it goes up further, it can move till 1574 and then test 1500 as a support level.
INFY trade ideas
Cup with handle breakout for InfosysSpotted cup with handle pattern for Infosys Ltd in NYSE. Unsuccessful breakout on the 8th June at the neckline at $19.50. Let's see if the big volume comes in to give the push to break out.
Dislaimer :
This is by no means a recommendation to buy. The ideas shared here are mainly for educational purpose only. Please consult your financial advisor prior to any investment decision.
INFOSYS BREAKOUTIn Daily time frame, the downtrend has been broken.
There are four times infy has checked the support level.
Also three times tested the resistance level, finally it has breakout.
Now what is the immediate support level is 1370 to 1350 and the target is as 1400,1450,1550.
Note; INFY announced a BUY BACK offer , buy back price is 1750.