Infosys- Started 920 -Ended 920 -Extended Wave 3-Expected Wave 4

25 Apr 2017

All the levels are based on cash/spot data of Infosys.

Infosys became favourite stock of mine as I was fortunate with 10+ updates between 900-920 to back again 900-920 - with 90% strike rate.

Started 900-920 Zone

Ended upside at 1040-1042 Zone- What a fall - Got extended & tested patience of all traders as well- But Kissed our target Zone 900-920

The fall from 1040-1045 Zone had an extended wave 3 which internally has divided into 5 waves of itself.
It travelled close to 361.8% of Wave-(i) low@1008 projected from wave -(ii) high@1032- Still remember it opened gap up when trading in wave (ii) rushed upside above 1005 like a rocket, but we were very clear again that unless it goes above 1035-1037 zone- we are not expecting Infosys to travel above highs of 1040-1045.

What Next?
We are looking for wave-iv which will travel following objectives next
38.2% retracement of wave-(ii) & wave-(iii) comes at 950

50% retracement comes at 970-975

61.8% retracement comes at 985-990- which is the maximum retracement -I shall expect incase this upside move extends beyond 935.

Post Retracement -It should travel back below 913 -double bottom lows to complete its final wave sequence of the series which started from 1040-1045.

Alternate Scenario
If expected upside move extends deep even above 1007--1009 Zone then we shall come back for review -forecasting or considering alternate scenario.

Trading Strategy
Moving above 935 -we shall look for 950- 970 & later 985-990 as discussed above - Strict stops have to be maintained below 912-913 (Double Bottom Zone)

All previous analysis of Infosys can be referred in my profile page.

Do join Indian Chatroom for discussion on markets across the region with passionate traders in the room at in.tradingview.com/chat/

Thanks for the support. Cheers for the community!!!.

26 Apr 2017

Dagangan aktif

10:55 Hrs 26th April2017

Last Price1019

Good Morning!

Turned down, kissing 935.55, Only above 935 -sustained move we shall be looking upside.

27 Apr 2017

Dagangan aktif

10:29 Hrs 27th April2017

Last Price@923

What do you think -tripple bottoms at 910-913 zone. Think So.

3 Mei 2017

Dagangan aktif

10:23 Hrs 3rd May2017

Good Morning!

Last Price@927

Convincing trade shall be breakout & sustained move above 935 or breakdownside & sustained move below 910/913.
Sideways consolidation is timewise consolidation so break of 910 should be looked for a downside trade.
else strategy should be buying in the zone 910-912 for targets 925-930 & Selling in the zone 929-933 for targets 913-915.

3 Mei 2017

Dagangan aktif

11:00 Hrs 3rd May2017

Last price@935.50

Started Moving above 935 - We are in the trade.

3 Mei 2017

Dagangan aktif

12:06 Hrs 3rd May2017

Last Price@934

Poke above 935 & making new high just below 940's has broken the upside range for Infy.
We can look to hold long positions in 933-935 or in the zone 925-928

5 Mei 2017

Dagangan aktif

10:09 Hrs 5th May2017

Good Morning!

Last Price@924

Careful at 930-935

Impulsive Fall from 940 handle to 920 lows in opening session today looks like it has put wave-iv pink in place which has retraced only 23.6%- shallow retracement of wave ii-iii distance (1032 to 913)- 23.6% comes at 940.
But we will still wait to take short positions below 920-today's low
Previous long positions we will exit close to 927-930 range & be careful for next moves.
Trading Strategy
Going below 920 - Selling with latest high below 940 as stop loss- means high which will form just now below 940 highs. Once starts falling below 920 activates downside.

5 Mei 2017

Dagangan aktif

11:27 Hrs 5th May2017

Last Price@924

Just jumped from 920 lows -mini double bottom- Our sell was to activate below 920

I shall look for 927-930 bracket as suggested earlier.

5 Mei 2017

Dagangan aktif

12:41 Hrs 5th May2017

Last Price@928

Jumped - as expected to 927-930 Zone