INFOSYS AT 1590 levels is around strong supply zone,
Descending parallel channel resistance around 1610 levels
Horizontal resistance around 1602 to 1630 as per previous swing high levels,
Bearish divergence on RSI with respect to price,
Bearish wolf wave formation, where price are trading above the structure formation which indicate overbought situation ,
counter might face strong resistance in zone of 1600-1630 levels ,
which should be used to exit long position if any,
now fresh investment in this counter above 1670 levels on daily closing basis
Down side counter can give retracement till levels of 1500-1480 once reversal is confirmed.
Time to be cautious in this counter.
Descending parallel channel resistance around 1610 levels
Horizontal resistance around 1602 to 1630 as per previous swing high levels,
Bearish divergence on RSI with respect to price,
Bearish wolf wave formation, where price are trading above the structure formation which indicate overbought situation ,
counter might face strong resistance in zone of 1600-1630 levels ,
which should be used to exit long position if any,
now fresh investment in this counter above 1670 levels on daily closing basis
Down side counter can give retracement till levels of 1500-1480 once reversal is confirmed.
Time to be cautious in this counter.