INFOSYSY detailed harmonic rule study

Apr 13, 2021

The pattern you are seeing is "THE PERFECT" crab pattern which is rarely seen . Now as a rule D point must complete at 1.618 levels and is combined with 3.14 of BC . Then, immediately as the market opened a large red candle at D was made you can see time is 9:15 AM it may have gapped up and fell. We need to be careful if at POTENTIAL REVERSAL ZONE there is a gap , long tail or very large price action .Now the next rule tells it must fall or retrace till 50% as a result it came up again from 1375(though it is .618 level) but recovered quickly and reached 50%.
Now according to me it must reach and retest previous high which is our large candle at D
Now let it first reach 1462 again then we will continue our view with new target with new highs.
good luck
Maintain stop loss of 1344
disclaimer: i bought today at 1398 you can long too at your own RISK :)

Apr 15, 2021

Note

infy ADR is down 5% and results not that good lets see how is the reaction maintain stop of 1340