Indian Charts: Infosys looks hopeless

Friday, April 15, 2011

Infosys looks hopeless

The case for Infosys looks hopeless . The long term trend line support was broken earlier this week .
And today with a big volume day , down it went .Closing at 2990 , it may again find support at 2990 at the blue trend line .

The technicals are oversold in the short term charts . So we may see a bounce back next trading day to the previous support lines shown in the next chart . May be 50 -60 odd points .

Thanks.

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Words of WISDOM

"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

---Jesse Livermore

"What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play. There is the plain fool, who does the wrong thing at all times everywhere, but there is also the Wall Street fool, who thinks he must trade all the time. No man can have adequate reasons for buying or selling stocks daily – or sufficient knowledge to make his play an intelligent play."

--Jesse Livermore

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Friday, April 15, 2011

Infosys looks hopeless

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