Infosys going back to 1200?

INFY has been in a bearish structure on the daily chart since March 23. It had gapped down to 1190 levels in April after a bad surprise in results. It has pulled back to the 1280 area which is the base of the gap. If selling pressure continues, a short position could be considered keeping the following levels in mind:

SHORT BELOW: 1254.25
STOP LOSS: 1279
TARGET 1: 1229.50
TARGET 2: 1204.75

Please do wait for at least a 15 min candle close below the "SHORT BELOW" level before initiating the trade.
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Trade fechado: stop atingido:

Stop loss hit, trade closed.