Wednesday, July 13, 2016

TECHNICAL ANALYSIS OF INFY FOR 14 JULY 2016

“BUY INFY ABOVE 1200 TGT 1230/1260”

“SELL INFY BELOW 1170 TGT 1150/1130”

DAILY CHART FOR INFY:
Primary trend of the INFY is bullish and after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 1200 ; as the stock is managing to trade above its 50 and 200 days moving averages with the RSI of 52, one may expect the targets of 1230 in the stock if it manages to sustain above the immediate support level of 1200.Today,Sensex ended with gains of seven points at 27,815. The Sensex opened at 27,912 touched an intra-day high of 27,929 and low of 27,752.The Nifty closed with a loss of mere two points at 8,520. The Nifty opened at 8,540 hitting a high of 8,550 and low of 8,494.
Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Analysis would remain same. Market would continue to see positive rally until Nifty holds 8480 levels by closing. BankNifty would continue to outperform Nifty and Next target for BankNifty would be 18800-19000 levels.
TOP GAINERS: Tata Steel, GAIL, ONGC, Coal India, Idea, BHEL and Kotak Mahindra Bank
TOP LOSERS:  PowerGrid, BPCL, IndusInd Bank, UltraTech Cement and Lupin

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