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 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

Yesterday's recap: of calls..

Time: 10: 51:  CMP 2570 covering infy long at 2570

yesterday Infy long initiated at 2486, the stock is now at 2578

Infy long is up now 4% from recommended price of Rs. 2486. Hold with SL of today's low less two rupees.

Tatamotors:

IDEA:
idea long was intiated at 61.95, hold with sl of 59.50

intraday alert: tatamotors added short

Time : 14.22
Tatamotors: below 780..tatamotors: looks like based on hourly inverted hns can reach 750 - 724..
Stop loss been 803

Time: 9:35
Infy upside breakout. CMP 2486.
Trade: Long
SL: 2445

Time: 9.39
Trades: Long IDEA (cmp: 61.95) SL 59.50