Trading@1049
Isn't that amazing & exciting that Infy turns from 1010 which was updated as a good support zone on 19th Sep2016 update shown below
Its an early sign of reversal & we need watch for support zones 1040-1045 & 1020-1025 if holds & pushes up, then likely that will be the 2nd clue that INFY wants to fly in the open sky. We already had our 1st clue as...
Infosys Ltd. after breaking uptrend at 1175.00 it has been trading in down trend channel, it is technically looking weak and may see further down side as it has broken long term support also. Trade may go further short in infy with a target of between 840-800 in near term.
Kindly analyse on your own .....
Few Clarifications ....
If Wave 1 is Diagonal Then Wave 5 is Not . So ,Wave 5 Can be wave 1 of wave 3 ,Thats most suitable.
Or This is Just A Zigzag combination correction.
995 Resistance (Above that you can give a thought that this correction is finished ).
Downtrend il continue untill its inside this channel,Every bounce at...
Wait for the breakout to the downside before shorting.
Don't miss the dip to buy as well..
Great stock to keep in portfolio.
It will not go straight away to break the top, but that's the cheapest you might get 'infy'
It is been observed that the price action is consolidating in between 1060-1010 levels for past 55 days on a daily chart. It is 11 weeks and almost 3 months. This is called a Big consolidation and price war between buyers and sellers.
Now, the price action got that big breakout from the consolidation as it closes below strong support level of 1010. Therefore, it...
Going above 1058 -likely Infy goes to the zone 1067-169 & beyond that zone for 1074-1075+ but likely there will be some retracement which will put infy to test the lows of 1035-1040 or 1020-125 zone before it rallies again but be careful -if it goes below 1020- its an alarm bell & going 1010-critical level -which should not break else -there could be heavy...
Trading@1050
INFY looks for the 5th wave up from lows@1010- likely to complete in 1058 & going beyond 1060 can kiss the zone 1067-1069 where the 5th wave travels 61.8% of the 1-3 wave distance.
Once done- we will look for correction on result day
