I am ruling out the 4th wave triangle scenario from previous updates- which can be referred below
The rally, which started from 900-920 zone can come to an end with a possible ending diagonal structure in the last wave upside from 986 lows. If this the case, then Infosys can attempt 900-920 zone where it started below 986 as initial halt. Larger 5th wave in C-wave is looking choppy & overlapping so it could be the case of Ending Diagonal.
Ending Diagonal(E.D.) E.D.'s always occur in the 5th wave or C-wave position to end the structure. It is all overlapping & complicated structure. This is the structure where 4th wave internally overlaps with 1st wave- that is the current case as shown below under the lens.
Under the lens 5th wave from 986 lows
Note So, time has come that we should not be complacent & monitor our positions strictly- if this is the case of E.D. in making then it shall end the structure & C-wave but it is too early to comment so we will wait for the market to show us the way.
Trading Strategy Scenario-1 Sell -Risky with Immediate Stops above 1036 for target 1015-1013.
Scenario-2 Sell- Below 1015-1013 -Look for 999 & 986 as target
Scenario-3 Buy if 1013-1015 holds for 5-10 mins -keeping stop below 1013 for the target 1040-1047 zone.
I shall be glad to have your comments.
You would love to read my previous updates- Click the charts below
An upside rally starts from 900-920 with Double Power-Bottoms & Trendlines
Infosys - 900 Sikka Chal Gaya! What Next?
Captured the start of 4th wave
Trading in the choppy market & doing the best possible
Today market opened gap down at 1022 & bounced to make day high@1040 keeping it below critical level@1042
Going below 1015 -shall continue down.
עסקה פעילה
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15:02 Hrs 29th March2017
Last Price@1029
Facing Resistance in the zone 1040-1042 - So, many times it has got restricted in that zone.
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09:00 Hrs 30th March2017
Last Price@1032
Infy is getting resistance in the zone 1040-1042 -not once - 3 -4 times suggesting how important resistance zone it has formed.
We shall not fight the market as break below 1015 shall give us 999 & 985 as our lower side target & any move above 1045 -holding above 1040 can break upside for upside targets.
Risky Traders should sell in the zone & keep taking advantage of 10-15 points between 1040-1042 to 1025-1027 zone.Hope they must have done in last few sessions.
So, we shall wait for markets to show us the way next.
עסקה פעילה
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13:06 Hrs 30th March2017
Last Price@1025
Day High@1036
Again it falls from day high 1035-1036 - selling at top has been our strategy in last 5-10 days.
We cannot have that king of upside push keeping whole structure again on doubt so those who are in short should look to close the sell positions between 1011-1014 in the pullback.
Sharp pullback from 1029 to 1018 likely should come in the zone 1011-1015 & we close the call for some time until pattern resolves next.
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10:20 Hrs 3rd April2017
Good Morning!
Last Price@1025
Narayan Murthy is angry on increment quantum for higher management as compared to all employees can lead to employees not trusting the management-
Opened Gap up at 1032 & had a sharp fall close to the prior swing low of 1018- Going below 1018 -we will trail the stop loss to 1033 (1 pip above- today's high) from 1037 stops as updated above at 14:18 Hrs on 31st March2017 & hold the short position.
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12:32 Hrs 3rd April2017
Last Price@1011
Day Low@1006.55
We shall book partial profits who ever taken short early morning at the day high or going below 1018
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09:17 Hrs 6th April2017
Last Price@993.50
Poking below 999 has opened for more weakness downside for target next 978-980.Once should take sell below 990 or on the bounce to 1000-1005 with stops above 1014.
Sold at top@1005 with strict stops at 1008 as per update -9:17 Hrs in the morning.
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12:35 Hrs 7th April2017
Last Price@986
Kissed 985 - Ending Diagonal Starts at 986 & Returns back to 986
תגובות
nitinroman
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Any updated view on nifty
WaveTalks
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@nitinroman, Nifty is struggling in 9200-9220 zone -likely I will wait as going below 9130 only it moves down upside, we will check if sustains above 9225 for 15 +mins. Going below 9130 -9080-9024 will put current high in Nifty as top for medium term.
nitinroman
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@AbhishekHSinghCMT, It,s my bad...I supposed to ask about infy..
nitinroman
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It is again reached at 1040
WaveTalks
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@nitinroman, So that's why I said 1015 is deciding level & I have give 3 trading scenarios which 1 should follow & don't become bias on either side at confusing time till the pattern resolves itself.
RajasekharCBE
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@AbhishekHSinghCMT, am holding 1040 call of this series bought at 7 and have booked part profit but still holding., also am holding 400 shares from 960 levels -- can i hold the call for higher target? what is the max target we can see this series.
WaveTalks
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@RajasekharCBE, There is a choppy movement happening either it should break above 1050 & sustain for bullish scenario or going below 1015 & later 999 can be a problem.
kacharts
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@RajasekharCBE, sorry to interrupt over here , but seeing many debates on it stock i think i should share my view .
whether to hold or not it entirely depends on ur time frame . .
technical view on daily chart weekly view- quarterly view- gyazo.com/1326a980da6f020ab38ef6782447aae0
fundamentally entire it space is trading at lifetime low P.E. which can see a tremendous turn around anytime in near future and it should surprise street..
WaveTalks
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@KumarAbhilash, That's why I always suggest read to the last word & last figure which I also suggest - break of 1015 & later 999 is critical for market & it bounces from 1007-1008 is creating doubt so I am keen to see how it opens up next going above 1040-1042 -a double bottom will establish for more bullish scenario.
WaveTalks
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@AbhishekHSinghCMT, As trader selling at the top is more than enough for me till market throws you out so I sold at 1040-1042 which was strong resistance & kept on moving my stops as Infy started melting finally I was taken out from market at 1015 when it turned from 1008 -this is how I manage my risk element. So, Risk Management is most important than Trading Strategy.