Infosys Technical Analysis Report – 15-09-2020
Daily Chart (988.55)
HISTORICAL PRICE ACTION ANALYSIS
Short Term Trend: Upward
Long Term Trend: Upward
Range: 512 to 961
Buying Pressure: Above 805
Resistance: 1036, 1109, 1273, 1458
Support: 961, 918, 894, 874, 805, 762, 721, 704, 612
Movement in the past few weeks: Upward
Movement in the past few days: Resistance Breakout
EXPECTED FUTURE PRICE ACTION
Reversal Expected/ Correction: Chances are low
Expected movement in the next few days: Upward
Expected Short Term Trend: Upward
Expected Range: 704 to 1273
Expected Buying Pressure: Above 1036
Expected Selling Pressure: Below 874
Trading with proper stop loss (may be in between 40-50 points) depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events. Any range breakout or breakout below support levels may create significant selling pressure that may drag the prices to its next support level. Any range breakout or breakout above resistance levels may create short term buying pressure that may allow prices to appreciate further to its next resistance level.
Short Term Trend: Upward
Long Term Trend: Upward
Range: 512 to 961
Buying Pressure: Above 805
Resistance: 1036, 1109, 1273, 1458
Support: 961, 918, 894, 874, 805, 762, 721, 704, 612
Movement in the past few weeks: Upward
Movement in the past few days: Resistance Breakout
EXPECTED FUTURE PRICE ACTION
Reversal Expected/ Correction: Chances are low
Expected movement in the next few days: Upward
Expected Short Term Trend: Upward
Expected Range: 704 to 1273
Expected Buying Pressure: Above 1036
Expected Selling Pressure: Below 874
Trading with proper stop loss (may be in between 40-50 points) depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events. Any range breakout or breakout below support levels may create significant selling pressure that may drag the prices to its next support level. Any range breakout or breakout above resistance levels may create short term buying pressure that may allow prices to appreciate further to its next resistance level.
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