We bunch of traders take calculated risk for an uncertain outcome but once you combine it with proper strategy - chances of favourable outcome becomes more as compared to the other one.
920 ( Mini Bottom) to 945-947- High shown as 948
947 to 925-930 Gap Zone - Low shown as 926
938 to 955-960 ( Also mentioned in update above 960 can kiss 965-970) - High of the session 970
Below 955 for 946-948 Zone
Finally flush for 975 - can this be possible- I don't know -time will let us know. What we know is we will take calculated risk of 5 points stoploss once it starts moving above 950.
We will search for buying opportunity in the zone 945-950 which is assumed to be good resting place for Infy . Our call gets triggered once it moves above 950 with stops below 945.
We are looking for 970-975 as that is the zone where Infy had earlier problems so we shall book complete.
Previous Update - Fallen from heaven at 1000@26th May2017
Previous Update - In the channel above 938 for 955-960
Low of the day is 945.45- Infy turns upside
Our stops for this one is 945 & below. We are in the trade.
You can't get better than this one- again re-entry at 945.50 just above the stops of 945.
We have strict stops below 945 so we are not losing anything -even if trade goes against us from this point & we wait for 970-975 target on upside.
We will now trail with stops below 948 & Hold.
Mini Support at 948
We compensated infy waiting period by selling Hindustan Zinc below 268 for targets 265-265.50 - It is just about to kiss 265.50 .
It went to high of 957 & struggled. This zone of 945-950 is still valid if it holds as support.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ