Infosys- Risk of Ending Diagonal to end the move@1042

22. März 2017

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

Infosys- Magic of X-Factor@1040

Trading 4th wave triangle

Expected upside thrust for 1090+

22. März 2017

Trade ist aktiv

12:35 Hrs 22nd March2017

Last Price1023

Falling from day's high@1040

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.

29. März 2017

Trade ist aktiv

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.

30. März 2017

Trade ist aktiv

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.

30. März 2017

Trade ist aktiv

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.

31. März 2017

Trade ist aktiv

12:15 Hrs 31st March2017

Last price@1015.70

After a long time Infy lands on 1015.

31. März 2017

Trade ist aktiv

12:35 Hrs 31st March2017

Last Price@1015.30

Here is the infy Picture at 1015

31. März 2017

Trade ist aktiv

13:52 Hrs 31st March2017

Last Price@1009

Infosys cracks heading for 999 - What a relief.

31. März 2017

Trade ist aktiv

14:18 Hrs 31st March2017

Last price@1020

Bounce is sharp upside from 1008 - we will trail our stops to 1037 -who ever entered in sell call in the 1035-1042.

31. März 2017

Trade ist aktiv

14:33 Hrs 31st March2017

Last Price1023

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.

31. März 2017

Trade ist aktiv

15:17 Hrs 31st March2017

Last Price1021

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.

3. Apr. 2017

Trade ist aktiv

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.

3. Apr. 2017

Trade ist aktiv

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

6. Apr. 2017

Trade ist aktiv

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.

6. Apr. 2017

Trade ist aktiv

09:39 Hrs 6th April2017

Last Price1000

Got the bounce from 994 to 1005.80 - Bang On.

Sold at top@1005 with strict stops at 1008 as per update -9:17 Hrs in the morning.

7. Apr. 2017

Trade ist aktiv

12:35 Hrs 7th April2017

Last Price@986

Kissed 985 - Ending Diagonal Starts at 986 & Returns back to 986