Just trying to analysis Infosys charts after bad set of results.
Infosys on daily charts broke the trend line support by closing below 1172. Technical targets of that break down comes around 1010. The stock also gone below 200 daily SMA.
The stock is also looking to fill the gap created 12 months back on 20 july 2015-21 july 2015. Lower end of this gap also comes around 1010.
On weekly charts the stock is at the lower end of bollinger band. The 200 weekly moving average right now at 914.57.
Now coming to more broad picture on monthly charts the picture is even bad the stock is now below the mid-value of Bollinger band which it had not done in last 3 years. Yes absolutely right in last 3 years it did not go below the mid-value of monthly bollinger band so now going below this is not a good sign. If stock goes to touch the lower end of that Bollinger band then it could reach 953.
On monthly charts there is another side of picture. The stock is at support trend line. If stock break this support line then stock can go to around 880. However this is just a probability not yet confirmed.
Disclosure:First of all this is just an analysis and not a sell call. Next i am not a SEBI certified analyst so please consult your financial adviser before acting on this call. Further i am not short on this stock and not even willing to short. This is just analysis.
Infosys on daily charts broke the trend line support by closing below 1172. Technical targets of that break down comes around 1010. The stock also gone below 200 daily SMA.
The stock is also looking to fill the gap created 12 months back on 20 july 2015-21 july 2015. Lower end of this gap also comes around 1010.
On weekly charts the stock is at the lower end of bollinger band. The 200 weekly moving average right now at 914.57.
On monthly charts there is another side of picture. The stock is at support trend line. If stock break this support line then stock can go to around 880. However this is just a probability not yet confirmed.
Disclosure:First of all this is just an analysis and not a sell call. Next i am not a SEBI certified analyst so please consult your financial adviser before acting on this call. Further i am not short on this stock and not even willing to short. This is just analysis.
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