INFY directional view

INFY looks Intresting. Near term support is placed at 1810 which once breaks opens up Targets of 1755 and 1700 on cash in coming days. Won’t be a smooth slide but below 1810 (VIBRATION PATTERN) would indicate weakness. On Higher side strong channel resistance is placed in zone of 1920-1940 for now it looks tough for INFY to cross and sustain above this zone. For now it may look like 1670 is sort of double bottom. But according to our Forcasting model it should again re-test 1670 in Coming weeks. And can make fresh low for the year. We are expecting it to break 1640 and once that happens, Gates for 1540 and 1425 would open but firstly 1640 has to break. Which should break as per our understanding. Pls note the view is directional so nothing happening overnight. We expects fresh leg on downside could be led by I.T. sector. Let’s see how it goes.