ITC and Infosys : Elliott Wave Count

I have been rather bearish on INFY and ITC.

Here are the latest charts for Infy and ITC.

1. ITC

2. INFOSYS 

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Infosys Update

On the 1 Jan 2011, I had posted charts of infosys really really long term and the last leg up in this post:

http://vivekoutlook.blogspot.com/2011/01/infosys-long-term.html

And these 1 and 2 charts I had carried in that posts.

Following is the follow up

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

INFOSYS LONG TERM

Infosys the poster boy / bellwether for the Indian IT is rocking since the day of its start of trading the stock is crazily running. Based on split bonus adjusted data, the stock was ~Rs. 1 in 1991 and is now 3443. Me think Infosys is in Primary wave 5 of Cycle wave 1.

A detailed wave structure suggests the infosys can even reach 3600.


These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students