iCharts Discussions

Ravi_S · Yellow Belt Joined: 15 Jun 2009 Posts: 569

Is there something called a correction in Infy... Rolling Eyes

Since Dec 14 2010 till Jan 05 2011, Infy did not break previous day's low... Where is this stock heading to... With results down the corner anything is possible...

vishytns · White Belt Joined: 26 Nov 2009 Posts: 206

Hi Ravi,
Actually I have same questions about Infy. Daily I am expecting reversal, but it is never happening. Laughing

Please see the chart and notice on the following
1. Price is kind of resisting at weekly r1 (3479)
2. At this point of juncture there is divergence in RSI. (daily chart attached)
3. MACD postive Histogram cycle is almost at the end.
4. Decreasing volumes as the price is going up.

Bullish scenario
==========
From this we an conclude that if price closes above weekly R1 we could see levels of 3600 before INFY results.

Bearish Scenario
============
Looking at the MACD +Histogram cycle, the cycle is almost comming to an end, possible that we have more uptick in the histo cycle. Now the negative histo cycle has to start, Once this cycle starts I have seen that generally price corrects. If this happens then we should see Infy start correcting in a day or two.

Price increase with decrease in volumes is not sustainable, but with this it is not sure when we are going to correct.

Todays candle actually Gapped up and closed in RED. Now it is now we need to see what kind of candle we will get tmrw. So it easily possible that we could start heading down tmrw or we could see levels of 3600 very SOON.

As per me....We should INfy should start correcting in a day or two..

These are only my views....Please comment. I am attaching the chart....
Actually I have taken Infy Puts today, with stop loss as daily close on weekly R1 (we are at weekly R1 now).

Lets hope that INFY starts correcting. Laughing

Vishy

amitkbaid1008 · Yellow Belt Joined: 04 Mar 2009 Posts: 540

INFY is little bit overbought since around one week.

Yesterday a short signal was triggered but failed.

Now whenever short signal will be triggered will not fail.

Results will be important factor here.

sherbaaz · Yellow Belt Joined: 27 May 2009 Posts: 543

keep eye on dollar strength in it would greatly benefit IT companies like TCS, infy and all

regards,

vishytns · White Belt Joined: 26 Nov 2009 Posts: 206

Ravi,
finally you made infy correct, were u the operator.
Congrats on ur NVK post
vishy

aromal · White Belt Joined: 22 Mar 2010 Posts: 302

aromal · White Belt Joined: 22 Mar 2010 Posts: 302