Infosys EOD 25-08-2016

Elliott wave analysis of Infosys we saw that a 5 wave down move was ending (earlier analysis can be found here). Further to that Infy seems to have done a small 5 wave upmove followed by 3 wave decline today.

Infosys Elliott Wave analysis on 1 min chart:

Infy (Infosys) completed a five wave down move in daily chart

Infy appears to have completed a 5 wave down move in (Elliott Wave) daily chart. This could be seen as a wave 1 or wave 'a' of the overall down move.

What does this mean to us as traders?
It means an a-b-c correction to follow. The direction of this move will be upwards. This abc could be part of wave 2 or wave 'b'. in either case the direction will be upwards.

Infy daily chart: