May 16, 2017

INFOSYS Weekly Megaphone pattern

  • Infosys week chart shows a possible bearish pattern forming. Since the Megaphone is forming at the top of an up trend this is likely to be  a bearish one. Having said that price is trading close to a crucial support zone so a larger bounce from here cannot be ruled out.
  • Bears will gain strength if the support line shown in second chart is violated on closing basis.
  • Infosys bears also need to keep price below 200 SMA to keep the weakness intact. 

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