Niftydirection

Infy elliotwave analysis, ready to create new high?

Long
NSE:INFY   INFOSYS LTD
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Technical analysis provided on the chart is solely the personal views of my research.
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Past performance is not an indicator of future returns. Investment is subject to market risks.
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On small time frame of 15 min plotted impulse wave from swing low.

Currently in Wave 4 triangle correction and looks ready for breakout with green Marubozu formed in 2nd last candle.

Targets any of these 1031-1037(in case of wave 5 truncation), 1050

case 1: Weakness in global markets can invite for gap fill 1006 and good support at 1004 which is entry opportunity with 997 SL.

Case 2: Gap up opening and sustainance above 1027 will confirm bullish bias

Case 3: Gap down and violation of 997 this becomes analysis will be invalid
Trade closed: target reached: 1054 high

Comments

Good one. Thanks!
+1 Reply
Great thanks man
+1 Reply
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