INFY Elliot wave based predictions

Jul 13

The quarter01-24 result and mgmt commentary on guidance can pull INFY into a new bull run cycle to take it above LTH as per waves drawn on the chart.
IT index is looking good on chart and it can not move beyond LTH if INFY do not contribute well so expecting a good show by Infy this time post results unlike every time when it falls badly post results.

* 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 17

Trade closed manually

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. Here is the link:-

Sep 2

Note

New LTH : 1975 achieved, now HCLTECH, TCS and INFY all three has made new LTHs