Earnings on 13th April2017
We all know what happens on day of Infosys- very volatile & you have to tighten your seat belts so that you are not thrown out, when Infosys is given a driver's seat.
Alternate Scenario- A complex correction unfolding since 1280 Highs
Thanks to the follower who updated that 13th is an day & since I have been tracking this stock for long time when it started moving from 900-920 zone bottom in early Feb2017.
Infosys reversal at 950 has taken support of & gave sharp move on 11th April2017- making a new high@972 & spent whole day sideways.
1009- Key Resistance
1040-1045 Critical Resistance
950 - Key support
900- Critical Support
Moving above 972 & holding above 970 -we will look for upside push atleast till 980-990 zone -in between we have our key level 986 as well.
Scenario-2 on account of results on 13th April2017 -if Infosys extends move above 1000 & crosses 1005-1009 zone then it can react sharply upside so long positions can be holded till the the time extended move stays above 1009
Scenario-3 If critical resistance 1040-1045 is crossed then it can be up-up away scenario.
Scenario-4 if Infy kisses 980-990 zone & starts down move because of undue selling pressure then we continue back with selling & going below 950 -all chances that it retest 900-920 zone.
Trading Infosys on day has to be done with proper risk management as it can hurt traders badly if it goes against .
I have given levels so that one can manage risk properly.
To All New Followers,
Double Power pushes infy from 900 to 1000+
Falling exactly from 1030's
Magic of X-Factor@1040
Ending Infy move right at the top zone 1040-1045
Selling the top@1005- Crossing the Bullet Train
Target Reached in 1st trade of the day & kissed 990 as expected.
Key Support Broken -950
Selling as expected also happened from 980-990 - we shall follow earlier post now as 950- key support broken.
Scenario -4 Target achieved for upside above 972 to 980-990 zone & later fall due to undue pressure for 950 & even lower - Target achieved.
We are closing the post.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ