- Infosys is currently trading within a robust support zone that is visible on both monthly and weekly time frames.
- The stock has already responded positively to the weekly demand zone and formed a bullish engulfing candle on the weekly time frame.
- Additionally, selling volume has been decreasing, and a bullish divergence has emerged on the daily time frame as confirmed by the Wave Volume Divergence Indicator.
- A strong support line, represented by the purple line plotted on all three time frames, making it a low-risk, high-reward trade opportunity to initiate a long position near that level.
- The Daily Time frame displays a 1:2 position, and the first target has been identified. To maximize potential profits from this trade, traders can trail both their Stop Loss and Target.
In conclusion, Infosys is currently presenting an enticing trading opportunity, as it is trading within a robust support zone visible on multiple time frames, and has formed a bullish engulfing candle on the weekly chart. Coupled with a decrease in selling volume and a bullish divergence confirmed by the Wave Volume Divergence Indicator, it appears to be a low-risk, high-reward trade to initiate a long position near the strong support zone.
I am not a SEBI registered individual; my analysis is only for educational purposes.
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Access the powerful Demand and Supply Zone Pro indicator at:
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Stay updated on Telegram:
t.me/MarketUp2Date
Join our WhatsApp channel:
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marketup2date.com
Stay updated on Telegram:
t.me/MarketUp2Date
Join our WhatsApp channel:
whatsapp.com/channel/0029Va6ByyH0LKZCc4Az4x0u
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.