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IOY trade ideas

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
11
Trading Research - INFY (Triangle) Sell SetupNOTE: SHORT SELLER MIGHT HAVE MUCH RISK BECAUSE OF GAP UP WAS OPENED ON 16 DEC. 2021 INFY 4hrs continuation chart with 5 waves up and side wave trend. Possible also upside move instead of WYZ flat pattern but if we just look at WYZ flat pattern scenario 1725 and 1692. Look for equality, I come to exactly 1660 where wave Y equals W. One of the waves within triangle, usually we see wave E triangle that why I assume here ABCDE triangle of wave ((E)). In-front of you chart of INFY, its a short term chart and with low 1311 & high 1848. This is how I view the basic of wave count, roughly. This is easy technique to identify the waves and count them correctly.
NSE:INFYEducation
by Trade-Technique
16
Infosys : Breakout Investment IdeaGuys you can see the Heikin Ashi candles forming in green back to back after breaching the resistance. One can enter here for long term investment if the candle closes above the previous candle close. No Target at all as this is a bluechip company and it makes & breaks all time highs. One should book partial profit after a certain return and then again buy at dips. 50 Ema works great for this chart as dinamic support. SL could be below the recent support.
NSE:INFYLong
by Cruoso4u