Well !!! the result says it all........
Over the days to come as we would end the financial year we should see some more good postings when it comes to the results section.
Hopefully ease of business will be much improved by the slowness in Covid-19
A good stock to accumulate as IT has a very bright future in the coming year ahead !!!!
Certainly looks like V-shaped recovery is on cards. Two key resistances in the path of V-shaped recovery are 18243 and 18343. The supports levels from the current closing price of the day are 18125 and 17957. Below that range 17494 which is 50 EMA will be major support. Bears might take control of NIFTY below this range. Three IT companies and their performance...
Nifty50 stock Analysis - Daily Timeframe:
1. Raising Support - marked in pink color up arrow
2. Reducing Resistance - marked in black color down arrow
3. Expecting a breakout at Rs.1760 level if we see another green candles
4. Last three green candles were formed with Open = Low price (no bottom wick)
This is for educational purpose only.
NEGATIVE SIDE :
1. Nifty IT broke the major support level at 34450pts during the last trading session.
2. The two major rejection candle at the level 36750pts in the recent time is so crucial. This is because of the two major correction happened in the past one in 2000 and the other during the corona situation. Both the corrections have the 4.236 fibonacci level...
🛑 Infosys stock to watch out for the week
🛑 currently trying to taking support at 1645 level
🛑 if it breakdown the level then we can see some more movement towards downside
🛑 1550 will be next stop for infy if it breakdown the above support level
Infosys came back to demand zone on daily time frame.
if it taken support from current level and dint cross daily pivot S2 which is 1682 it can be longed from here
based on DEMAND ZONE if todays pivot 2 also broke and stock move furthr 2,3 % down and candle close red means it will be be breakdown ,,, it would be short entry
as charts infosys follow a downward trend line as resistance and at same time take a support on 1665 level ...so now if its break trend line and hold above 1715 then only we bullish in infosys ...of if its take resistance from trend line and break 1665 we go short in this stock.
Infosys is looking for pull back level 1500, one can go short with key levels.
All the key levels are mentioned in chart with Stop-loss and Targets
Macd in daily
Macd in hourly
Rsi in hourly
RSI : Over bought
Volatility : Going down.
Infy is probably loosing momentum and should test support in the range of 1400 - 1450 for a healthy upward moment of 1574 - 1620.
If it goes up further, it can move till 1574 and then test 1500 as a support level.