920 was the key level, which was to be breached downside for us to initiate sell call in Infy -which was never realised & Infy moved up to highs of 965.
Previous Update - Started 920- ended 920-Extended Wave 3- Expected Wave 4
Looks like there was truncation in the 5th minuette leg which started from 1045 highs in . Whenever there is a truncation, Prices move swiftly to the starting point which is 1045.
Gap between 947-952 Zone can be crucial key zone for next set of move which can be upside if key zone 947-952 holds as support & critical zone 920 holds next- If both key & critical level intact -it could be good sign for Infy travelling beyond 1000+ levels & crossing 1045 later.
Infosys Falling from 1040-1042 zone to 910
TechM & Infosys
We are standing at crossroads as TechMahindra Results on 26th May2017 so likely if TechM -travels below 435 -it can move to 425-427 & below 425-427 for 405-407 (Important ) mean time Infosys could pass time sideways in the zone 945-965 -Till the time TechM finishes it's job -if at all it activates downside as expected below 435.
Refer TechM Update - 40 points -Block Hole Delivery@445
Refer CNX IT - How it jumped from 9920 to 10300+ supporting view in IT stocks
Have a nice weekend.
Falls from day opening email@example.com - just running close to test break away gap support as suggested in the update.
Breakaway Gap gave support at 949 -Today opened at 951
Breakaway gap offered support zone to infy in 947-952 & Boom
Common Infy - You are the right choice - aha !
Super excited as Infy moves with green candle upside as shown
We are in heavens with Infy - So, closing this call. Have a nice weekend.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ