I1FO34 trade ideas
INFY: Next target 1368 and 1408INFY has tested its trendline support level 4 times on daily candlesticks chart. At present if it honored its support as mentioned in the chart, It will reach to the level of 1368 as target one. Further it may go up to 1408. Please see it in the picture.
Volume is also low during the fall from recent high compering to the earlier volume of long side which indicates additional support for the long position
Infy Short Based on résistance and and rejection from trend linInfosys can be short at the 1275 levels
Triangle pattern breakoutWait for the breakout and buy. Stop-loss lowest point of triangle(Rs.1233) and target Rs.1425 or highest point of triangle.
Infosys (Analysis)This will only be possible Infosys respects the support I drew, so don't take any fresh trades on Infosys since Indian dollar currency value has been spiked too and it's not good news for IT companies like Infosys. So wait and take a safe trade there is no hurry Infosys.
Trade Set up 1267.60 is the level below it short for at least 15 points. If you have missed you can average it at 1267.60 if comes for a retest. keep SL as per your target like if capturing 15 points profit keep SL of at least 15 points.
Infy looking bullish on charts. Expecting 1380-1400Option Strategy
Bull call Spread
+1x 25FEB2021 1300CE - ₹ 49.2
-1x 25FEB2021 1420CE - ₹ 11.4
Infy Buy - Long CallStock breaking down word trendline on hourly chart. To limit the risk one can go for bull spread.
A Long Position in making .Broadening Bullish wedge , Double bottom , Ascending Triangle and prices making higher lows .
Indication of a BUY after the break & retest .
INFY EW wave counts with HarmonicsSee how nicely Harmonics and EW waves work togther.
We can find high probable setups with these tools.
Right now Wave 4 is in progress and i am expecting one impulse leg further to complete the strcuture. We need to see how the waves are emerging and then attempt to count them using corrective waves pattern.
