INFY 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
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
Comment:
It has tested the 1st support level and revert from 1245 low. Now if it closes above 1300 it will showcase a big upside.
Comment:
Target 1 achieved
Comment:
It formed double bottom pattern and which indicates that it may reach upto 1425 levels once it break 1387 levels
Comment:
Now first target rally is over and it touches the trend line again. After some consolidation, it will be above 1425 soon.
Comment:
Infy has reached to the mentioned target of 1425.