AbhishekHSinghCMT

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

Short
NSE:INFY   INFOSYS LTD
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

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