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.
I1FO34 trade ideas
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.