Infosys - All poised a decent correction ? Stay cautious
I usually prefer a 3-hour time frame chart to understand the longer trend of the stock.
IT stocks have had a stellar rally since the March lows and it seems to me that the bulls are finally getting tired before they get active all over again.
Infosys the beast is showing some serious negative divergences on a 3-hour time frame. Additionally, the dollar index is also looking to bottom out in near time :)
Infosys can correct till 1020-1050 in near short time :)
IT stocks have had a stellar rally since the March lows and it seems to me that the bulls are finally getting tired before they get active all over again.
Infosys the beast is showing some serious negative divergences on a 3-hour time frame. Additionally, the dollar index is also looking to bottom out in near time :)
Infosys can correct till 1020-1050 in near short time :)
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