INFOSYS SHORT OPPORTUNITY

INFOSIS HAS BROKE MANY MINOR SUPPORT LEVELS AND MAJOR SOPPORT OF INR 755 (ALSO PSYCHOLOGICAL NUMBER INR 750) AND MADE DAILY LOWER LOW LOWER CLOSE. WHICH GIVES US SIGNS OF TREND REVERSAL TO BEARISH. NOW STOCK IS MAKING PULLBACK FOR NEWLY FORMED DOWN TREND. TRADERS CAN LOOK FOR SHORT OPPORTUNITY AT INR 792.40 LEVEL WHERE BEARISH BAT PATTERN COMPLETES. WE HAVE ALSO MAJOR FIBONACCI LEVEL OF 0.786 RETRACEMENT WHICH ALSO ALIGNS WITH BAT FORMATION COMPLETION.

BEARISH BAT
SELL ENTRY: INR 792.40
STOP LOSS: INR 811.75
TARGET-1: INR 765.50
TARGET-2: INR 748.90

TRADERS CAN ALSO HOLD THEIR SHORT POSITION UPTO RETEST OF RECENT DAILY LOW OF INR 722- INR 730 LEVEL ACCORDING TO TREND ANALYSIS FOR EXTENDED TARGET.