Analysis Infosys
📊 Script: INFOSYS LTD
📊 Sector: IT
📊 Industry: IT - Large
Key highlights: 💡⚡
📈 NIFTY IT and Infosys charts seem to move in the same direction even so that the chart patters are same for weekly time frames. NIFTY IT (42913) and Infosys(1953) both touched all time high on Friday 30-08-2024.
📈 As per weekly charts of Infosys the stock touched the all time high of 1953 in Jan 2022 and since then this have been a major resistance to breakthrough. Also, if we analyse the 15 min time frame the stock again tested this resistance level on Aug 28th. Considering this we can say that this the psychological resistance for the stock to break.
📈RSI for the weekly and 15mins time frame is in overbought zone and stock is trading above 50 EMA and 200 EMA. 50 EMA being the key support level in 15 min time frame. MACD is also at zero line for 15 mins. Stock has made green candles with each candle closing above the open of the previous candle and with good volumes.
📈 Considering the above analysis we need to wait for next candle and move in NIFTY IT on Monday. If the market moves up then we can expect INFY to cross 2000 levels. IF the stock falls then the key support levels will be 1930 and 1910 levels.
⏱️ C.M.P 📑💰- entry at 1950
🟢 Target 🎯🏆 - 2100
⚠️ Stoploss ☠️🚫 - 1875
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
📊 Sector: IT
📊 Industry: IT - Large
Key highlights: 💡⚡
📈 NIFTY IT and Infosys charts seem to move in the same direction even so that the chart patters are same for weekly time frames. NIFTY IT (42913) and Infosys(1953) both touched all time high on Friday 30-08-2024.
📈 As per weekly charts of Infosys the stock touched the all time high of 1953 in Jan 2022 and since then this have been a major resistance to breakthrough. Also, if we analyse the 15 min time frame the stock again tested this resistance level on Aug 28th. Considering this we can say that this the psychological resistance for the stock to break.
📈RSI for the weekly and 15mins time frame is in overbought zone and stock is trading above 50 EMA and 200 EMA. 50 EMA being the key support level in 15 min time frame. MACD is also at zero line for 15 mins. Stock has made green candles with each candle closing above the open of the previous candle and with good volumes.
📈 Considering the above analysis we need to wait for next candle and move in NIFTY IT on Monday. If the market moves up then we can expect INFY to cross 2000 levels. IF the stock falls then the key support levels will be 1930 and 1910 levels.
⏱️ C.M.P 📑💰- entry at 1950
🟢 Target 🎯🏆 - 2100
⚠️ Stoploss ☠️🚫 - 1875
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
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