From previous update - "Jumps from 1000 to 1034" -suggested that once it enters the zone 1030-1035 & falls below 1025-1027 activates down move close to 1000.
Well Infy dropped close to 1000 yesterday making close by firstname.lastname@example.org -we closed our position@1010-1005 zone.
It is still in correction mode, which is going on & we are not in hurry to comment what correction structure it is, as what matters most is how much you make if you are correct & how much you lose if you are wrong.
If Infy starts trading above 1015 then likely it goes to fill the gap 1025-1027 again & close to 1030 marks.
Going below 1000 marks -it can travel to 992-995 zone where it can hold so partial profits to be booked & be out of the trade as any sustained move above 1005 will suggest that It is looking upside but our call activates as said in scenario-1 only above 1015.
You would love to read the connecting parts of Infosys
Infy- Double Power- Bottoms & Trendlines- Rally from 920 to 1000- Part-1
Infosys- 900 Sikka Chal Gaya!- What Next?- Part-2
Infosys- Falling from 1030 Exactly- Part-3
Infosys- jumps from 1000 to 1034- Take care of X-Factor@1040- Part-4
Infy sustained above 1005 & moved to day high@1013 slightly below 1015 - going beyond 1015 can move close to 1025-1030 zone next
In coming session -Any dip to day's low of 999 on 9th March2017 & later upside push above 1005 can again activate buying opportunity with stops below 999 for targets 1025-1030 zone.
Day High has touched our target zone- we are closing with a profit of 12 points from 1015 to 1027.
Looks like final leg has started & it opened up as a triangle. I shall be looking for 1005-1008 zone as holding pad & Boom for upside. Keeping in mind 999 should not be broken downside.
Shall be coming with latest update in sometime.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ