INFY RECOOMENDATION @ 1507 (MY PERSONAL TECHNICAL VIEW)

INFY @ 1507

THIS IS INFOSYS CHART. THIS IS SIMPLE STOCK CHART WITH OUT ANY SIGN.

This above chart showing a down trend from 1570 level to 1500 level which is running at this current market. Below chart is the reference.

Now check the CNXIT chart to support and cross check the IT scenario.

This CNXIT chart (time frame 1 hr.) showing the same condition like INFY. But we need to check this index for further output of INFY.

This CNXIT chart showing some interesting pattern which is plotted on CCI based on woodies theory. It's called head & shoulders pattern or you may call it as horizontal breakout. 29000 to 29150+ possible as per this chart. So, the result / conclusion is CNXIT upmove possible on coming trading session.

Now come to the main point. What about INFY / Infosys ?? Is it same type of recovery possible ??
Nothing impossible but you need a proper clarification for any prediction.

If we draw a retracement on INFY from 1350 range then it shows a clear point @ 1490 area with 38.20% retracement. Below picture is for your reference.

Now checking the chart with some indicator and retracement level from the top value which was at 1570 area. If we saw the retracement level then we can definitely tell you that you can find the spot @ 1525 level as 38.20% retracement and 1544 level as 61.80%. Below pic for your ref.

This is the same chart with Woodies CCI indicator where you can see a horizontal breakout already happen and for some time basis head & shoulder can also possible. Below pic is for ref.

This is very simple and easy method to identify a stock where the sound is technically good or not.

My view at this current date (07/11/2022) INFY (1500 area approx) is positive and may be possible to kiss the level of 1525 to 1540 area soon.

Best of luck and keep reading & learning for daily dairy.

Thank You.

Comments

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This is pain of time. If you not booked then u have to seen to RED sign of your portfolio and if u book then u can not wait to re-enter your position. On daily chart there are not much good sign as per my last post. I am also little much confused with Market sentimental. If you can then go and chill with your other work for a while. Hahahaha. Bcz its not sustaining till now and will be on next few session. But when I saw the intra small time frame chart then there are some sign at this point. Some how some lower side accumulation process can possible at this point. The Clear view on CCI which also indicate the support line. Some uncertain selling pressure can possible because of broker sell-off. I must say if you want some small hedging then you can try at this point. I also mentioned the NIfty Buy View on my Twitter handle for next 2-3 trading session. Let's hope for the best. Follow Twitter - @subham2010 Follow FB Page - @ Silent Trader1 Follow Youtube - @Silenttrader1

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