Thursday, April 05, 2012

Infy - Elliott Wave Analysis

Infy is moving sideways in a range of 3000 - 2550. But the internal wave structure of this consolidation lends itself to a typical wave count. Infy completed wave I in late October, the it formed a flat correction in wave II. Since the end of wave II we can count a clear 5 wave structure which I have labeled wave [1]. The resistance level has been tested twice so far, but this time I feel the roof of 3000 wont hold the prices down. This time the breakout will be for real. 

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