INFYNSE:INFY
Results are around, and the OI addition seems to be on higher side in the ITM options which is suggesting further upside.
Entry above 806, if sustains then can see 813 and 823. Sl would be 799.50
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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INFY trade ideas
Infosys perfect cup-handle with 50 EMA breakout at pivot levelThe reasons why I choose this trade.
1. Cup & handle formation
2. 50 EMA, 14 EMA & Pivot breakout together
3. Shorterm trend break
4. On daily chart it is ascending triangle.
All above is happening at multiple day support which is at 697. So 697 is very crucial at this time. Once it break, higher upside is possible.
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.