INFOSYS - Likely to move past ATH 772 in coming weeks.
INFOSYS made a strong Base at 705 level which is confluence of .382 FR in 50% Time of rally
from 600 to 772 And at completion of "abc" correction from 772. "a" = "c" at 707 level.
The momentum from 705 to 742 today confirms bottom at 705 and scrip is heading towards
772 which will be broken in coming weeks.
Also pl.note the GAP UP zone " 685 to 695" area still not challenged confirms the strength.
Now SL for LT , MT and ST is 705.
Note: I am not a Qualified technical analyst. Please do your own analysis before taking any investment decisions.
from 600 to 772 And at completion of "abc" correction from 772. "a" = "c" at 707 level.
The momentum from 705 to 742 today confirms bottom at 705 and scrip is heading towards
772 which will be broken in coming weeks.
Also pl.note the GAP UP zone " 685 to 695" area still not challenged confirms the strength.
Now SL for LT , MT and ST is 705.
Note: I am not a Qualified technical analyst. Please do your own analysis before taking any investment decisions.
Price rejection here puts LT trend under threat.