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Rushabh shastri
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  • Infy-India Trend Analysis

    Dow theory has two very Important features which I like most and trying to implement both here.

    1) Trend has more chances to continuation than reversal.

    2) Trends end at the climax.

    Applying this theory to INFY, Trendline study (Horizontal-Vertical) states that if stock maintains given level of INR 2200, For next trading days only. There are more chance that Down side Trend climax has come for whatever reason.

    And then if INR 2200 sustain stock should move higher as per first rule i.e. Trend has more chances to continuation than reversal.

    First target INR2400+ in one month time frame if INR2200 hold as per theory.

    (click to enlarge)

    (click to enlarge)

    Disclosure: I am long INFY.

    Additional disclosure: Investment purpose

    Tags: INFY, IT SECTOR, INDIA
    Apr 28 8:27 AM | Link | Comment!
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