Technical Analysis of Indian Equities by Nooresh

Infosys – A huge Pattern breakout is possible.

BlogInfy

 

 

-> The stock saw a huge sell off in 2011 results at 3400 levels.

-> Ever since that the stock took a huge correction for many months.

-> 2950-3000 has been a resistance for the last 6-8 months. The stock is now consolidating at higher levels and one may now watch for a breakout above 3000.

-> Supports at 2800-2750 and one needs to watch for a good closing above 3000 which can happen in next few weeks to initiated a trade.

 

 

Happy Investing,

 

Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2609 articles.

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{ 6 comments… add one }
  • mark February 24, 2012, 19:59

    hi, i am long on infy fut at 2982 what should be my stop for monday and for the march month expiry

    Reply
    • nooresh February 27, 2012, 08:58

      The stop is placed at 2890-2850 band

      Reply
  • MASOOD IQBAL KHAN February 26, 2012, 19:38

    Plz contact me if you have an intraday plan for day trading

    Reply
    • nooresh February 27, 2012, 08:57

      We will get back to u.

      Reply
  • Gulshan February 28, 2012, 15:26

    Is this an ainverted H&S(april onwards) or an Ascending triangle (sep onwards)?

    Reply
    • nooresh February 28, 2012, 15:38

      Important point is when it crosses 3000.

      Reply

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