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Trade-Technique
Dec 16, 2021 3:25 PM

Trading Research - INFY (Triangle) Sell Setup Education

NSE:INFY240
INFOSYS LTDNSE

Description

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NOTE: SHORT SELLER MIGHT HAVE MUCH RISK BECAUSE OF GAP UP WAS OPENED ON 16 DEC. 2021

INFY 4hrs continuation chart with 5 waves up and side wave trend.

Possible also upside move instead of WYZ flat pattern but if we just look at WYZ flat pattern scenario 1725 and 1692.

Look for equality, I come to exactly 1660 where wave Y equals W.

One of the waves within triangle, usually we see wave E triangle that why I assume here ABCDE triangle of wave ((E)).


In-front of you chart of INFY, its a short term chart and with low 1311 & high 1848.


This is how I view the basic of wave count, roughly. This is easy technique to identify the waves and count them correctly.


Comment

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Keep patience to create position... Wait and Wait.

Trade active

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Sell INFY(Spot but you can trade in future) 1879-1890 and protective Stop 1900 and target so far
Trend AnalysisWave AnalysisElliott Wave
Comments
Amique_UK
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I just looked at daily and weekly time frame charts. It looks like it had wave 1 extention and now can give one more short wave up (impulse).
@Kinnari_Prajapati what do you think?
Trade-Technique
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@Amique_UK, I'm looking for correction in sideways. The surge or breakout in any direction can be possible on high impact news. We can create high potential position at this time but let's wait for tomorrow. The Gap of today is also not good for short selling that why i didn't create any trade setup but personally, I think 1791 nearby can be best entry on selling side with small risk.

Moreover, I think sell is great opportunity - We've seeing Triangle in wave ((E)) within Triangle which is highly effective technique to trade that i noticed in my research expertience.
Amique_UK
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@Kinnari_Prajapati, I think the difference lies in labelling the triangle, where I see (e) wave completion tomorrow.
Trade-Technique
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@Amique_UK, I have viewed two scenario, either we are at wave D in 3rd chart (roughly) or Wave ((E)).
Amique_UK
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@Kinnari_Prajapati, Okay lets see, only time will tell. 😊 What news it will be, to cause breakout or breakdown.
SunilMaddala
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your call worked on this.. Great
UrmilaRawat150571
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Mam i have short sell infy yesterday was it correct
Trade-Technique
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@UrmilaRawat150571, me too, sold.
UrmilaRawat150571
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Mam since i am new at what level to book profit?
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