AbhishekHSinghCMT
Long

Infosys - Truncated 5th@920 -Breakaway Gap Support for 1045+

NSE:INFY   INFOSYS LTD
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920-920-920 - What a 920!!!

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

Truncation
Looks like there was truncation in the 5th minuette leg which started from 1045 highs in Ending Diagonal . Whenever there is a truncation, Prices move swiftly to the starting point which is 1045.

Breakaway Gap
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 Support Zone ) 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 bullish view in IT stocks

Have a nice weekend.


May 14
Trade active: 09:58 Hrs 15th May2017

Last Price@955

Falls from day opening high@963.50 - just running close to test break away gap support as suggested in the update.

May 15
Trade active: 09:57 Hrs 16th May2017

Last Price@959

Breakaway Gap gave support at 949 -Today opened at 951
May 25
Trade active: 11:04 Hrs 25th May2017

Last Price@973

Breakaway gap offered support zone to infy in 947-952 & Boom

May 25
Trade active: 14:56 Hrs 25th May2017

Last Price@980

Common Infy - You are the right choice - aha !
May 26
Trade active: 11:25 Hrs 26th May2017

Last Price@990

Day High@991

Super excited as Infy moves with green candle upside as shown

May 26
Trade closed manually: 12:56 Hrs 26th May2017

Last price@999

We are in heavens with Infy - So, closing this call. Have a nice weekend.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
hi, is 1045+ target still possible ?
regards
kamal
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Respect for your analysis man!
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@cajatinnagpal, Welcome.
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