On Sep 27th I had given a short call on Infosys with a target of 2310 to 2370. Stock has made a low of 2460 and then has re bounced
Looking at charts currently, it looks difficult to predict if it is an Elliot 3 or 5 wave correction, as a long candlestick pattern is formed and parabolic SAR has reversed direction which is a positive sign. Even through volume indicators i.e. force index the move looks positive
Basis current situation my recommendation is to close all your short positions and wait for market to take direction
Here is the strategy recommendation
1. Go short if Infosys falls below 2460
2. Go long if it crosses 2480
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