AbhishekHSinghCMT
Short

Infosys- Risk of Ending Diagonal to end the move@1042

NSE:INFY   INFOSYS LTD
1078 views
18
I am ruling out the 4th wave triangle scenario from previous updates- which can be referred below

The rally, which started from 900-920 zone can come to an end with a possible ending diagonal structure in the last wave upside from 986 lows. If this the case, then Infosys can attempt 900-920 zone where it started below 986 as initial halt.
Larger 5th wave in C-wave is looking choppy & overlapping so it could be the case of Ending Diagonal .

Ending Diagonal(E.D.)
E.D.'s always occur in the 5th wave or C-wave position to end the structure. It is all overlapping & complicated structure. This is the structure where 4th wave internally overlaps with 1st wave- that is the current case as shown below under the lens.

Under the lens 5th wave from 986 lows

Note
So, time has come that we should not be complacent & monitor our positions strictly- if this is the case of E.D. in making then it shall end the structure & C-wave but it is too early to comment so we will wait for the market to show us the way.

Trading Strategy
Scenario-1 Sell -Risky with Immediate Stops above 1036 for target 1015-1013.

Scenario-2 Sell- Below 1015-1013 -Look for 999 & 986 as target

Scenario-3 Buy if 1013-1015 holds for 5-10 mins -keeping stop below 1013 for the target 1040-1047 zone.


I shall be glad to have your comments.


You would love to read my previous updates- Click the charts below

An upside rally starts from 900-920 with Double Power-Bottoms & Trendlines

Infosys - 900 Sikka Chal Gaya! What Next?

Captured the start of 4th wave

Trading in the choppy market & doing the best possible

Infosys- Magic of X-Factor@1040

Trading 4th wave triangle

Expected upside thrust for 1090+






Trade active: 12:35 Hrs 22nd March2017

Last Price@1023

Falling from day's high@1040

Today market opened gap down at 1022 & bounced to make day high@1040 keeping it below critical level@1042

Going below 1015 -shall continue down.

Trade active: 15:02 Hrs 29th March2017

Last Price@1029

Facing Resistance in the zone 1040-1042 - So, many times it has got restricted in that zone.

Trade active: 09:00 Hrs 30th March2017

Last Price@1032

Infy is getting resistance in the zone 1040-1042 -not once - 3 -4 times suggesting how important resistance zone it has formed.

We shall not fight the market as break below 1015 shall give us 999 & 985 as our lower side target & any move above 1045 -holding above 1040 can break upside for upside targets.

Risky Traders should sell in the zone & keep taking advantage of 10-15 points between 1040-1042 to 1025-1027 zone.Hope they must have done in last few sessions.

So, we shall wait for markets to show us the way next.
Trade active: 13:06 Hrs 30th March2017

Last Price@1025

Day High@1036

Again it falls from day high 1035-1036 - selling at top has been our strategy in last 5-10 days.
Trade active: 12:15 Hrs 31st March2017

Last price@1015.70

After a long time Infy lands on 1015.
Trade active: 12:35 Hrs 31st March2017

Last Price@1015.30

Here is the infy Picture at 1015

Trade active: 13:52 Hrs 31st March2017

Last Price@1009

Infosys cracks heading for 999 - What a relief.
Trade active: 14:18 Hrs 31st March2017

Last price@1020

Bounce is sharp upside from 1008 - we will trail our stops to 1037 -who ever entered in sell call in the 1035-1042.
Trade active: 14:33 Hrs 31st March2017

Last Price@1023

We cannot have that king of upside push keeping whole structure again on doubt so those who are in short should look to close the sell positions between 1011-1014
in the pullback.
Trade active: 15:17 Hrs 31st March2017

Last Price@1021

Sharp pullback from 1029 to 1018 likely should come in the zone 1011-1015 & we close the call for some time until pattern resolves next.

Trade active: 10:20 Hrs 3rd April2017

Good Morning!

Last Price@1025

Narayan Murthy is angry on increment quantum for higher management as compared to all employees can lead to employees not trusting the management-

Opened Gap up at 1032 & had a sharp fall close to the prior swing low of 1018- Going below 1018 -we will trail the stop loss to 1033 (1 pip above- today's high) from 1037 stops as updated above at 14:18 Hrs on 31st March2017 & hold the short position.

Trade active: 12:32 Hrs 3rd April2017

Last Price@1011

Day Low@1006.55

We shall book partial profits who ever taken short early morning at the day high or going below 1018

Trade active: 09:17 Hrs 6th April2017

Last Price@993.50

Poking below 999 has opened for more weakness downside for target next 978-980.Once should take sell below 990 or on the bounce to 1000-1005 with stops above 1014.
Trade active: 09:39 Hrs 6th April2017

Last Price@1000

Got the bounce from 994 to 1005.80 - Bang On.

Sold at top@1005 with strict stops at 1008 as per update -9:17 Hrs in the morning.
Trade active: 12:35 Hrs 7th April2017

Last Price@986

Kissed 985 - Ending Diagonal Starts at 986 & Returns back to 986

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

Any updated view on nifty
Reply
@nitinroman, Nifty is struggling in 9200-9220 zone -likely I will wait as going below 9130 only it moves down upside, we will check if sustains above 9225 for 15 +mins. Going below 9130 -9080-9024 will put current high in Nifty as top for medium term.
Reply
nitinroman AbhishekHSinghCMT
@AbhishekHSinghCMT, It,s my bad...I supposed to ask about infy..
Reply
It is again reached at 1040
Reply
@nitinroman, So that's why I said 1015 is deciding level & I have give 3 trading scenarios which 1 should follow & don't become bias on either side at confusing time till the pattern resolves itself.
Reply
RajasekharCBE AbhishekHSinghCMT
@AbhishekHSinghCMT, am holding 1040 call of this series bought at 7 and have booked part profit but still holding., also am holding 400 shares from 960 levels -- can i hold the call for higher target? what is the max target we can see this series.
Reply
AbhishekHSinghCMT RajasekharCBE
@RajasekharCBE, There is a choppy movement happening either it should break above 1050 & sustain for bullish scenario or going below 1015 & later 999 can be a problem.
Reply
kacharts RajasekharCBE
@RajasekharCBE, sorry to interrupt over here , but seeing many debates on it stock i think i should share my view .
whether to hold or not it entirely depends on ur time frame . .
technical view on daily chart
weekly view-
quarterly view- https://gyazo.com/1326a980da6f020ab38ef6782447aae0

fundamentally entire it space is trading at lifetime low P.E. which can see a tremendous turn around anytime in near future and it should surprise street..
Reply
@kacharts, That's why I always suggest read to the last word & last figure which I also suggest - break of 1015 & later 999 is critical for market & it bounces from 1007-1008 is creating doubt so I am keen to see how it opens up next going above 1040-1042 -a double bottom will establish for more bullish scenario.
Reply
AbhishekHSinghCMT AbhishekHSinghCMT
@AbhishekHSinghCMT, As trader selling at the top is more than enough for me till market throws you out so I sold at 1040-1042 which was strong resistance & kept on moving my stops as Infy started melting finally I was taken out from market at 1015 when it turned from 1008 -this is how I manage my risk element. So, Risk Management is most important than Trading Strategy.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out