7 October 2012

INFOSYS - ELLIOTT WAVE UPDATE

Hi Friends,


INFOSYS
INFOSYS

In our last post we mentioned that INFOSYS seems to be in Wave 2 of (C) of the Cycle Degree Wave 2, which might develop as Zigzag Correction. The correction seems over at 2648 and it might have started moving in its 3rd Wave down. Generally Zigzags are Bounded by Channels. So until the stock doesn't break above this Channel our assumption of wave 2 holds true. There could be a Double or Triple Zigzag & stock may try to fill the Gap at 2740. But owning this stock as an Investor is still bit Risky. 

This is not a Short Call on the Stock. But an alert for Investors to exit Longs. For Short confirmation traders mus wait for break down from the rising channel. As a trader I would wait patiently till the stock breaks down from the Rising Channel an initiate Short trade on a pullback.


So lets wait & watch..

Thanks & Regards,

Harsh Dixit.