May 13, 2010

  • INFOSYS WEEKLY chart has formed a DIAMOND TOP and a TRIANGLE.
  • DIAMOND TOP at uptrend is negative.
  • TRIANGLE can go either way.
  • We will try to get a clue from the triangle. A break down of 2605 level is bearish and can bring it down to 2300 levels.
  • Trading above 2702 can take it to 2790.
  • For short trading enter at the break of 2605 and keep 2620 as stop loss.
  • Week chart is also showing negative divergence in MACD. But the price has not reacted in a big negative way.
thank you


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore