AbhishekHSinghCMT

Infosys- Bang On!-Jumps 1000 to 1034- Take care of X-Factor@1040

NSE:INFY   INFOSYS LTD
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Kindly understand my position- I am very tight in my schedule & have very less time for analysis & shall do so once time permits.
Hope you understand.Wish you a happy Sunday


In previous connecting parts mentioned below- we made 150-175 points in all

As per last update - It was suggested that we will plan to buy in the zone 992-997- Infy came close to the desired zone -opened with gap down & made a low@1000 on 3rd March2017. As per the trading strategy in the update - "Bang On!-Falling Exactly from 1030's-early in wave 4..." Moved in line & gave a push from 1000 to 1034 day's high- isn't that amazing!

Comment section-previous update

Hi @anantindia, Hope my comment helped you in planning your Infy trade- suggested to look for zone 992-997 & moving above 1000 - shall be an opportunity to buy.

Trading Strategy
Scenario-1
Recent move from 1000 to 1034 in the last session -could be part of the ongoing correction & we will be interested to buy only above X-factor 1040 next - if sustains (sustains mean crossing 1040 & not holding 1034 is not good to hold buying for short term trade)

Scenario-2
In the next session, if Infy enters 1025-1027 zone back from 1030-1035 & starts falling below 1025 that could be short term sell but only for risky traders who can take risk of 8-10's stop above 1035 post going below 1025-1027 zone- in this scenario -it can likely retest 1000 & below but keeping intact our key support 986.

Scenario-3
If the key support 986 is intact & you see price retesting the zone 990-995 that could be used again as buying opportunity for the target 1027-1030 zone.

You would love to read my previous updates

Infy - Double Power - Bottoms & Trendlines- Can it hold?- Part 1

Infosys- 900 Sikka Chal Gaya! What Next?- Part 2

Infosys- Bang On! Falling exactly from 1030's- Part 3

Mar 06
Trade active: 11:39 Hrs 6th March2017

Last Price@1032.10

Key Zone 1030-135 is where Infy struggling as per scenario- 2 suggested above - early it was gap down opening at 1027 & travelled to 1019 lows.

Going below 1025-1027 --Scenario 2 gets activated earlier - now we change to 1019 -current day's low for taking sell call for targets close to 1000 or buying above 1040 as per Scenario-1.
Mar 06
Trade active: 11:49 Hrs 6th March 2017

Last Price@1032

Safe Traders -They Take sell below 1019 & trail their stop loss to cost once it starts moving below 1015 &

Risky Traders - should put stops above 1035 & take sell once it goes below 1025- We we will book in between 1012-1014 zone if holds & if leaks below 1010 then moves further down close 995-1000 zone.
Mar 06
Trade active: 09:13 Hrs 7th March2017

Again it shall open gap down close to 1022
Mar 06
Trade active: 10:11 Hrs 7th March2017

Last Price@1018.20

The move from 1000 to 1035-1036 zone surely looks choppy so as I said we shall consider any buying only above 1040- X factor

Yesterday also it gap down & pushed above 1035- 1036 zone

Today again opened gap down so likely if this gap holds on top then it heads close to 1000 or can dip below 1000 to 992-997 zone.

Mar 07
Trade active: 12:05 Hrs 7th March2017

Last Price@1023

Trying to fill the gap -now if it starts trading below 1020 & holds down, then most likely it dips below 1014 which is day low.

Mar 07
Trade active: 12:43 Hrs 7th March2017

Last Price@1022

Stops have to be 1040 + some pips more above if sell taken in the present situation.
Mar 07
Trade active: 10:09 Hrs 8th March2017

Last Price@1013

We are half way through the fall & if it moves above 1015 then likely lock the partial profits & sustaining below 1014 -we will look to hold.

Next support could be close to 1000.

Finally falling through 1000-

If Infy falls below 1000 then we shall be looking for 992-995 as profit booking zone, but as if now we are trailing stops at 1026.50.

Mar 08
Trade closed manually: 12:39 Hrs 8th March2017

Last Price@1010.10

Day's Low@1005

We are closing the short call at current price@1010 as likely it can push up next

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
6-8months view should I HOLD THE STOCK?
Reply
@GauravBhatia, Yes, Support is getting cooked once all done & heads above 1040 -sure you can hold & we need to come back later again once it goes close to 1100 levels.
Reply
GauravBhatia AbhishekHSinghCMT
@AbhishekHSinghCMT, thankyou
Reply
OK, Thank you Sir.
Reply
Dear Abhishek Sir,

Any Stop loss for the short position @ 1019?

Thanks
Manik
Reply
@ManikManna, You know risk was better in this trade if one would have taken sell in the range 1030-1035 with stops slightly above X-swing high@1040 or take sell below 1014 -day low for the target between 995-1000. Whatever is the case now you have to hold with 1040 + some pips above as stops.
Reply
Safe sell is activated
Reply
@nitinroman, Yes, this gap down should hold & likely only above 1040 moves it will be good buying or close to 995-1000 zone we will search for buying opportunity.
Reply
Hi Abhishek,

I just red your Idea and liked it. Before reading your Idea, I too published my view which matches closely with yours. Please have a look.

Thanks
Sachin
Reply
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