When INFY was trading near the top of day after gaining more than Rs 100/- then following line was told yesterday at 02:29 PM in Pre-Closing Outlook:-
As INFY was more than 30% up after previous results therefore selling can not be ruled out on the back of such bullish psychology today
Technical positions have already been updated in Technical Analysis and Market Outlook(12-04-2013) and INFY results led volatility today. As technical reverses sharply in such volatility therefore next moves will get confirmations after stabilising of market.
It should be kept in mind that Technically nothing is left for Bulls after crucial levels broken down confirmations but FIIs bought more than 3200 Cr in Stock Futures during April 2013 and they were net buyers daily therefore firstly valid break out previous 2 sessions trading range(5478-5610) should be firstly watched for next trend confirmations because both buying and selling seen within this range and Nifty is trading within this range today amid most depressing sentiments.
As INFY was more than 30% up after previous results therefore selling can not be ruled out on the back of such bullish psychology today
As was told same happened and INFY is down more than 17% today after yesterday selling.
Technical positions have already been updated in Technical Analysis and Market Outlook(12-04-2013) and INFY results led volatility today. As technical reverses sharply in such volatility therefore next moves will get confirmations after stabilising of market.
It should be kept in mind that Technically nothing is left for Bulls after crucial levels broken down confirmations but FIIs bought more than 3200 Cr in Stock Futures during April 2013 and they were net buyers daily therefore firstly valid break out previous 2 sessions trading range(5478-5610) should be firstly watched for next trend confirmations because both buying and selling seen within this range and Nifty is trading within this range today amid most depressing sentiments.