Infosys has been consolidating and has formed a triangle which was broken yesterday only for the price to reverse and close within the triangle.
We can see the Green Line (9 EMA) is trying to cross the Blue Line (20 EMA) from below indicating a bullish momentum. Any breach of the triangle and a close above it might lead to a rally in the stock and the stock might touch it's all time high and also breach it. A Consolidation before a crucial resistance/support area is generally a sign that any breakout might take that level off.
The Large caps might be news driven due to the latest regulations by SEBI amending the Portfolio allocation of the Multi Cap Funds so keep that in mind while placing your trades.
Which side will you be betting on ?
We can see the Green Line (9 EMA) is trying to cross the Blue Line (20 EMA) from below indicating a bullish momentum. Any breach of the triangle and a close above it might lead to a rally in the stock and the stock might touch it's all time high and also breach it. A Consolidation before a crucial resistance/support area is generally a sign that any breakout might take that level off.
The Large caps might be news driven due to the latest regulations by SEBI amending the Portfolio allocation of the Multi Cap Funds so keep that in mind while placing your trades.
Which side will you be betting on ?
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