AbhishekHSinghCMT
Short

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

NSE:INFY   INFOSYS LTD INR5
1070 11 16
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
snapshot


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
Infy- Double Power- Bottoms & Trendlines- Can it hold?


Infosys - 900 Sikka Chal Gaya! What Next?
Infosys - 900 Sikka Chal Gaya! What Next?


Captured the start of 4th wave
Infosys- Bang On!-Falling Exactly from1030


Trading in the choppy market & doing the best possible
Infosys- Bang On!-Jumps 1000 to 1034- Take care of X-Factor@1040


Infosys- Magic of X-Factor@1040
Infosys- Magic of X-Factor@1040- What Next?


Trading 4th wave triangle
Infosys- Elliott Wave Triangle-Traded 4 legs -Final Leg & Boom?


Expected upside thrust for 1090+
Infosys - Upside Thrust for 1090+  with 986-Critical Support







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.

snapshot
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.

snapshot
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

snapshot
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.
snapshot
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.

snapshot
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.

snapshot
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

snapshot
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.
snapshot
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

snapshot
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
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
@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
KumarAbhilash 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
snapshot

weekly view-
snapshot

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
@KumarAbhilash, 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 TOP 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
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