In last four weeks, Infosys has rallied of more than 200 points and made a high of 1499 on Wednesday (19/07). Those who already have this stock and entered at lower levels are sitting on good profits. Now those who are looking for an opportunity to enter in this stock, are looking for a good entry. INFY actually reached at interesting levels. Lets discuss this on charts.
Let’s first see weekly chart. In this chart we can see its trading triangle. Now it just hit the upper resistance zone of the triangle. It also just crossed 50 EMA weekly.
Now see daily chart also. We can see that the candle that hit the resistance is a strong bullish candle. Now where it will go? What we have to do? We need to just wait and watch. It might face some resistance here, it can take a pause. And after that once it gives a breakout we can take the positional entry. Our entry will trigger as soon as it crosses 1500 mark. Till then just keep an eye. If in case it falls back from here, we will look buying opportunity near 1380 once it start taking support there. I hope you got the strategy. Right? So keep an eye on this stock and happy trading. 👍✌️
