INFTY 1.5 YR TARGET 2716 as per Pole and Flag pattern

Jul 17

It seems INFY has completed Pole and Flag pattern (See arrow in Green and flag in blue), though retracement from LTH has been 53% which is more than book rules of 50% but still it looks like a Pole and Flag pattern and if that is respected then with that the target for NIFTY comes to 2716, I measure the next pole start point when the stocks moves out of flag line.

I have redrawn the Elliot waves as per new target of 2716.

The earlier post about INFY/ target still holds true but more as internal wave within wave 3.

* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade with applying your analysis and at your own risk.

Jul 22

Trade active

LTH is on RADAR for now.

Jul 26

Note

Going nice 1878, quite near the LTH, 70-80 more points.

Jul 31

Note

Good weekly and monthly closing though last day closing is poor, 100+ points run since when call was given. With IT index looking solid (C&H Pattern confirmed) most of the quality IT stocks must be moving up and INFY is one of the big leader after TCS. So LTH seems an easy target for now and that should complete rounding bottom pattern.

IT index call reference

Aug 7

Note

Clearing the LTH (1900-1960 range) on monthly/weekly closing basis is important for targets mentioned.

Aug 27

Note

Closing at 1900, very positive sign with monthly and weekly closing approaching.

Sep 14

Note

LTH is crossed, making a base near LTH, next pull from this level will start taking INFY to new heights but failure to cross this level properly can bring some corrections again.