Buy INFOSYS

٤ مايو ٢٠١٦

1. Infosys made a low of 1068 on 29/02/2016 and made a high of 1268 on 18/04/16 , drawing fibonacci retracements from these levels , we find that stock is retracing from 1168 that is 50 % retracement .
2. Loooking at the chart of Infosys it looks like it is holding the support by sustaining above the trendline drawn.
3. on Wednesday , Infosys formed a Dragonfly Doji candlestick , which signals that downtrend or correction in this stock is over , and reversal is expected

so One should buy Infosys for target of 1220 and SL OF 1165 .