Infosys - Fallen from heaven at 1000@26th May2017

881 33
If 920 holds as support & it starts moving above 928-930 Zone - then it can push to 965-970 as initial target & later 995-1000 as 2nd target.

Previous Update - We are in heavens at 999- 12:56 Hrs -26th May2017- Closing this call
Jun 28
Trade active: 10:02 Hrs 29th June2017

Last Price@939

Nice -it has started moving upside. Happy to see a green candle for opening hour of the market.

Jun 29
Trade active: 11:18 Hrs 29th June2017

Last Price@943

Day High@947

We will book partial profits in the zone 943-945. The gap zone can be next support if 947 is intact on upside.
Once Infy comes in the zone 928-932 where it retraces 61.8% of the opening move & we see Infy is taking support then we plan to buy again for targets higher then 947.
Jun 29
Trade active: 13:56 Hrs 29th June2017

Last Price@939

Fall Started below 947-948 Zone -Made recent low 937.

Next we will buy above 948 or if Infy comes in the zone 930-932 which comes in the gap zone.
An harmonic pattern is in place.
Jun 29
Trade active: 15:10 Hrs 29th June2017

Last Price@930

Awesome! Infy comes back to 929 as suggested above in the gap zone.

920 is important level -should not breach downside so one can initiate long positions with strict stops below 920 for targets above 948 -recent high.

Jun 29
Trade active: 15:18 Hrs 29th June2017

Last Price@928

The way it is falling looks a bad idea to take long positions today & markets are about to close so, we will wait for infy to start moving above 930 to give us some clue next for buying or buying above 948- day high as suggested earlier.
Jun 30
Trade active: 10:50 Hrs 30th June2017

Last Price@935

Started moving 930 as suggested above

Jun 30
Trade active: 13:12 Hrs 30th June2017

Last Price@934

Infy should turn upside above 925 for 947 -initial target & rest shall complete going in the zone 965-975 as a final target zone where we plan to close all trades.

Making Money needs patience.

Happy Weekend
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Sir but isn't there a clear Head and shoulder pattern? If the neckline breaks don't you think the price may go down??
@KunalJadhav, Correct. "if neckline breaks" There is big "if"
KunalJadhav KunalJadhav
@KunalJadhav, Sir I know a doji is formed with a green candle indicating a trend reversal but then why isn't the chart following a head and shoulder pattern. ??
@KunalJadhav, You only answered your question- "if neckline breaks" so let it break & 920 is crucial level downside or I will say let 900 break on downside.
KunalJadhav AbhishekHSinghCMT
@AbhishekHSinghCMT, Thank you sir.. I am an aspiring technical analyst. Hoping to learn more things from you in near future. Thank you for answering my query. (y)
Can we enter now?
@asif.ayyub, Till the time it holds above 925 Now - It is good to buy. So stop loss should be below 925. Why did you miss to buy above 930 as suggested above & yesterday, it was 2 rounds of trade -one buying & selling.
asif.ayyub AbhishekHSinghCMT
@AbhishekHSinghCMT, I ahd existing positions, which I needed to exit. Now exited all. And hence wanted to know if I could buy. Also it would be great if you can add "It is good to buy" Or "can sell at these levels" kind of an update in messages so that it can help guys like us...
@asif.ayyub, I don't give direct words as buy & sell. I will always suggest support zone & resistance zone- you have to check at your end to take positions. Resistance always seen as selling point & Support is always seen as buying point.
asif.ayyub AbhishekHSinghCMT
@AbhishekHSinghCMT, appreciate it...thanks for your guidance!!!
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