AbhishekHSinghCMT
Long

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

NSE:INFY   INFOSYS LTD
846 26 22
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 https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ

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

Trade active: 10:55 Hrs 26th April2017

Last Price@1019

Good Morning!

Turned down, kissing 935.55, Only above 935 -sustained move we shall be looking upside.
Trade active: 10:29 Hrs 27th April2017

Last Price@923

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

Trade active: 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.
Trade active: 11:00 Hrs 3rd May2017

Last price@935.50

Started Moving above 935 - We are in the trade.
Trade active: 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
Trade active: 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.
Trade active: 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.

Trade active: 12:41 Hrs 5th May2017

Last Price@928

Jumped - as expected to 927-930 Zone

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
980 easy target... can also see 1040 & 1105 in long term
Reply
Yes, can use as S,L. for long?
Reply
@AMBRISH, Yes. 910-913 was a good zone. If crosses 935 then it will be awesome.
Reply
AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks, it might be gap up opening.
Reply
@AMBRISH, Any News - Why are you expecting gap up?
Reply
AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, No news, but that's way they force you to cover your shorts, some time end of the day move it so fast , it has happened couple of times.
Reply
Hi Abhishek ..I am unable to find NSE Future stocks in tradingview..can you help me?
Reply
@sujitvarpe, At present, TradingView provides NSE/BSE Cash data only. No FNO. You can request for this feature by voting & putting your comment at
https://getsatisfaction.com/tradingview/topics/-consolidated-request-indias-mcx-nse-futures-and-options-data
Reply
sujitvarpe AbhishekHSinghCMT
@AbhishekHSinghCMT, -Thanks..Really needed :(
Reply
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