INFOSYS Chart Analysis
- GAP on the first chart shows a possibility of an island cluster formation if the news on the result day is good. But charts are showing bearish possibilities.
- Chart has a Death cross in place.
- Weekly chart is showing a bearish flag which is a continuation pattern.
- Last chart of daily time frame looks interesting we had a bearish engulfing and a close below 50 SMA a day before the last results. One can look for similar clues this time too.
- It's not a good idea to predict the direction for such news events so if one is expecting a large move its better to go with options. A straddle can give good profits if the stock gives a large one directional move.
San , Do you see an ascending triangle formation in prices from april 12 to july 12 ? With Upper trendline at the low of gap .Lower TL is ascending joining the lows ..
ReplyDeleteSan Infosys will surprise the bears of April 2012 :):)
ReplyDelete@sometimesbullsometimesbear
ReplyDeleteWith the charts showing bearish setup a surprise is very much possible
@Smita
ReplyDeleteAscending triangle got negated with the 6th July candle. Till then price was getting support at the trend line.
Having said that an up move cannot be ruled out.
Thanks for your reply !
ReplyDeletergds
you can by infy at- 2208 target 2295, 2344,2404 stoploss -2106 sure call only
ReplyDelete