Infosys now has 8.36 weightage in Nifty, which is highest among Nifty stocks. The stock possesses beta value of 0.83. Thus movement of Infosys have substantial contribution to Nifty.
The stock has formed a bearish head and shoulder with neckline around 1180. It has satisfied the volume consideration during the pattern.The stock yesterday closed at 1169, almost 1% below the neckline. Unless Infosys trades and closes above 1180, the stock may come down to the head and shoulder target of 1185.
Needless to say that the stock is in a short term downtrend with last top around 1215. Crossover and stay above this level will turn short term trend positive. 200 EMA is at 1150, that is a level to watch.
Please take a look at the chart. It has formed a classical bearish head and shoulder pattern.
Disclaimer - The views here expressed and the charts shared are strictly for educational purpose and not guideline for buy or sell. The author will not be responsible for any loss, that may occur.
The stock has formed a bearish head and shoulder with neckline around 1180. It has satisfied the volume consideration during the pattern.The stock yesterday closed at 1169, almost 1% below the neckline. Unless Infosys trades and closes above 1180, the stock may come down to the head and shoulder target of 1185.
Needless to say that the stock is in a short term downtrend with last top around 1215. Crossover and stay above this level will turn short term trend positive. 200 EMA is at 1150, that is a level to watch.
Please take a look at the chart. It has formed a classical bearish head and shoulder pattern.
Disclaimer - The views here expressed and the charts shared are strictly for educational purpose and not guideline for buy or sell. The author will not be responsible for any loss, that may occur.
3 comments:
Excellent call. Is this the beginning of end ?
Excellent call. Is this the beginning of end ?
Let's see.
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