Infosys Update.

Prudent  Investments.

( Invest With Prudence. )

Infosys
At  a  Glance.

As per the charts above

Infosys on Weekly basis has formed a Rising Wedge,

 along with a Wolf Wave ( marked as pts 1 to 5 ) in the pic above,

And their is also a Bearish Divergence on RSI,

( Marked as pt AB on the chart and AB on RSI ).

ADX on the other hand shows that, even though their was a Positive DMI dominance, since the beginning of 2019, but the ADX line was below 25 , thus showing weakness in strength of the on going uptrend.

Now, a rising wedge at the top is itself a signal of caution for the Bulls, that one should get alert , because if we get a BO of this pattern then the trend would reverse at least for Short - Mid Term.

Another point to be noticed is, formation of Bearish Wolf Wave with wave 5 going beyond the wedge and then coming back, again to show signals of lack of strength.

RSI on the other hand, has already broken its support line 

( Marked by Blue circle in the RSI indicator ),

Which is again a negative sign.

Now as we already know that Infy was down 16% yesterday in the US markets, so ideally it should open GAP DOWN today in the Indian Markets as well.

POC and Major support zone marked in the pic above are the probable levels, where Infy can find support.

Only a Valid BO below the Major Support marked in the pic abv, can turn the bias. Because as of now till the time 602 is intact on a Weekly basis , the overall trend will remain positive only.

I know that its too late to bring all this in front of you and Infy will very likely give a massive Gap Down opening today,

And to be very honest, i myself do not have any position in Infy,

But still this is the way one could have figured out the weakness coming in the on going uptrend and found the next support zones.
And if someone could have identified the weakness as explained then at least he / she would not have held a long position in Infy.

Therefore, from an investment point of view one can still BUY the stock in btwn 600 - 640, keeping a SL below 602 on WCB.

Note :

I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.

Therefore, kindly, do your own research or consult your adviser before trading or making any investment. 

I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self - sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.

Nifty Update.

Prudent  Investments.

( Invest With Prudence. )

Nifty
Short Term View.

As per the charts above

Nifty hrly chart, from the last 3 candles, is respecting the Pitchfork support. ( See the red box in the pic )

While the Ichimoku suggests that the range bound activity may continue from  the Red horizontal support to the 3rd Blue Horizontal Line ( Just below the Green Arrow )

A break below the red horizontal line ( just below the red box ), will act as the last resort for the current scenario. A valid BO below it can lead to further downside and we may witness the Indian Benchmark Index falling down to the next levels being :

• Bottom line of Pitchfork.
• Previous Low

And if the downside still persists and Nifty spot gives a valid BO below 11,080......then a big fall is on the cards.

While for the upside , once Nifty is able to pass the Ichimoku range, as explained above, then the above two Dark Blue horizontal lines will probably act as the next targets.

Note :

I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.

Therefore, kindly, do your own research or consult your adviser before trading or making any investment. 

I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self - sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.

Titan Update.

Prudent  Investments.

( Invest With Prudence. )

Titan
Short Term View.

Titan Ichimoku Chart.

As per the charts above

Titan has broken its support and has closed below it.

Most importantly this support has been broken after forming a  Double Top.

Another important point to be noticed is , at the time of Double Top Formation, RSI has formed a Bearish Divergence, which acts as a supporting tool to BO of support.

However, i would wait for appropriate Price Action, before entering into a trade , due to the fact that in the current scenario the Risk : Reward does not match. ( Daily basis. )

Once this hindrance is passed, we may see Titan coming down to app 1150 - 1170, 

( See the Two Targets Line marked in Red in pic 1 )

If someone has to take a trade in the current scenario, then one can go short even at CMP, with SL in spot above 1266 (15 M closing basis )...........Targets being the same.

The ichimoku chart suggests that this target can be achieved in a time frame of  about 8 - 10 days, provided the trade is taken with correct Risk : Reward.

Note :

I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.

Therefore, kindly, do your own research or consult your adviser before trading or making any investment. 

I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self - sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.