Today 13th April2017, Infosys disappointed investors, reporting a 2.83 per cent drop in consolidated net profit at Rs 3,603 crore for the quarter ended March 31 compared with Rs 3,708 crore posted for the sequential quarter ended December 31, 2016.
However, the company announced a big bonanza for shareholders, pledging to return Rs 13,000 crore, or $2 billion, from its cash reserves as a dividend or share buyback in FY18.
What is a Ballast?
Ballast is a technical term used by F1 Racers. Ballast allows you to add weight to an already light car, with the specific intention of altering the weight distribution of the car.
Modern F1 car have ballast of more then 150 Kg. For example- In the race of 2008, From Red Bull Racing Team- David Coultard used tungsten plates(ballast) in front wing so that weight can balanced giving best performance.
Ballast are usually very costly & Racing teams use tungsten, platinum & rhenium etc. as ballast material & can be done only who can afford.
Infosys- Best F1 Driver on Dalal Street can afford such ballast for better performance in future races, but only time will suggest whether ballast used by them really can help them in longer runs or they just used it for spiking the performance when required.
Review of Last Performance
Bang On Move from last update- Scenario 4- As expected Infosys Best F1 Driver on Dalal Street with a sonic speed rushed to 980-990 above 972 - opening at 970 today 13th April2017 & took a sharp turn from 990 to 941 with straight drive.
Individuals who can match Infosys caliber & heat only can take advantage of such volatile moves or if you can't then it is better to use "Kaali -Peeli" taxi on Mumbai streets paying 20% extra for keeping you cool in hot summer.
Kindly do not take it as negative remark & let us become positive & strong in taking decisions minus emotions of fear, greed,hope & regret to match the caliber of a F1 racer.
Visible Divergence & Failing like shown below the chart shows that this fall could come to halt -once it starts moving above 950 & sustains above that level.
Holding above 950 with stops below 941 -we shall look for 972-975 zone as next target zone which will give momentum indicators to relax from its oversold zone of 30 levels which is standard in case of .
Yes, this move can be choppy as it will be a corrective move which can unfold next.
You would love to read my previous update (click the charts)
Move from 900-920 to 1000 - Double Power- Bottoms & .
900- Sikka Chal Gaya! & What Next?
Falling exactly from 1030's early in Wave 4
Magic of X-Factor@1040
Risk of to end the move@1042
Selling the top@1005- Crossing The Bullet Train
It did sustain above 950 which I was expecting - made new low@931 but still looking upside now once it crosses 955 then once should look for upside move in the zone 972-975.
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"It did not sustain above 950- for expected upside move" - Still looking for upside atleast till 972-975 zone.
We need some market confirmation for upside move & down move got extended but limited downside is left which it can move next -should give some relief on upside before selling happens again likely from the zone 965-975 zone.
Here also I am searching for temporary bounce, which can or should take infy back to 975-990 zone & later if it faces resistance - we shall use that bounce to sell again. It has sustain & trade above 930-935 zone to give us confidence that the bounce has started.
Effectively, Infy has not moved at all yesterday- we want Infy also to give us confidence by moving above 925 to see we are getting a bounce.
Later we are using this bounce to sell for even lower targets & need to check what kind of bounce it gets from 920-925 zone next.
Jumps from 923 as expected in morning -started to feel a bounce
Closing this Post-at 923 Price