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INFOSYS LTD

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INFY/N trade ideas

5 MONTH CONSOLIDATION BREAKOUT On the weekly chart, the stock has decisively broken out its five months consolidation formation on a closing basis This breakout is accompanied with huge volumes indicating increased participation on rally The stock was observed from its 20, 50.and 100 Day SMA support zone which reconfirm bullish sentiments The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in bullish mode which supports rising strength as well as momentum. The above analysis indicate an up side of 1885-1925 levels
NSE:INFYLong
by tusharvispute1
[ INTRADAY ] INFY LONG BET risk: Reward ratio is 1: 2 Rest as per Charts ******** Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all. ======= I use shorthands for my trades. “Positional” - means You can carry these positions and I do not see sharp volatility ahead. “Intraday” -means You must close this position at any cost by the end of the day. ======= Always follow a stop loss. In the case of Intraday trades, it is mostly the “Low/High of the Candle”. In the case of Positional trades, it is mostly the previous swings ********
NSE:INFYLong
by Palkesh_Agrawal
Triple Correction WXYXZ in Infosys# Elliot corrective pattern called Triple Correction WXYXZ. Charecteristics: 1)It is a combination of 3 correction.(Flat 3-3-5,Zigzag 5-3-5,triangle 3-3-3-3-3) 2)Each correction is connected by a counter trending wave x(also takes a form an elliot correction).This wave X is sideways movement there by not correcting significantly prior movement. 3)This three correction can either be flat,zigzag and triangle or a combination of either. As per Elliot generally after triple correction market gives an impulsive move. Over here we are seeing combination of two zigzag(5-3-5) in the Primary wave W and wave Y and third correction is yet to be formed,this third correction can either take form of zigzag(5-3-5) or a triangle(3-3-3-3-3) to complete entire WXYXZ pattern on primary degree Reason behind naming entire movement as an corrective pattern and not an impulse. 1)There's no significant corrective price movement retracing prior up movement by 38.2-50%.Generally after an 5 wave up move one impulsive cycle complete's following which we see deeper correction in prices (atleast 38.2-50% of prior 5 wave impulsive cycle). 2)After every 5 wave impulsive move following correction is only retracing prices by 23% of prior up move there by not following price alternation rule of Elliot wave 2 & wave 4. Reason behind naming current movement WXYXZ triple correction and not WXY double correction. 1)If this was a double correction then post wave Y on primary degree we would have seen impulsive move unfolding on the down side.The sideways movement is indicating that we might be seeing wave Z on the upside in future. Analysis: Wave degrees: Primary :Blue Intermediate:White Minor:Purple for impulse and yellow for correction. Current count Primary:second wave X Intermediate:leg F of diametric pattern(Not labelled) So far it seems like we have completed WXY wave on primary degree, and second connecting wave X is going on.Both the wave X has taken a form of diametric pattern(7 leg corrective pattern) hence currently we are in the 6th leg of second wave X,a drop in the form of 7th leg can come in near future as prices are approaching ATH levels post which we will third correction Z on the upside giving us a target of 2800+. Ideal time for investment as per this count is to wait for a dip towards 1680-1700 zone which would complete 7th leg of wave X post which we could see reversal. Disclaimer:I am posting this analysis for my future reference,positions should be build or exited on the basis of this analysis.
NSE:INFY
by UNDERDOG-29
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