Expectation : If INFY is failing to trade above recent high of 3200 today and at the end of the day closing is seen around 3050 and below the same around 3020 its confirm market is going to give a gapdown opening and will test 2850 - 2750 level immidiately and in near to medoum term it wil test lower support level around 2200 where multiple support is seen.
Scenerio 1 : Inverted Flag pole difference is seen from 3500 to 2160 = 1340 points, support breakdown is seen at 2180 and sustain on weekly chart below 2180 will give target of 840 level on lower sdie in long term.
Scenerio 2 : If we take rectangle pattern formation where the trading range of rectangle is from 3000 higher resistance to 2600 support where the height of the rectangle is 400 points and breakdown below 2160 weekly clsoing will bring level of 1760 (3000 - 2200 = 400) (2180 - 400 = 1760) as medium term level. .
Contra : If sustai ntrading is seen above 3200 on clsoing basis will retest higher level of 3500 in near to medium term. Tille the time below 3200 on weekly clsoing expectation it will give a sharp correction as might get a hard hit due to rupee fluctuation which has hit the Profitability as this is just a personal view.
Trade on with stop of ressitance and support given, and its investors call at the end of the say.
Happy Trading.
Jai Mata Dee...
