Infosys: Predicting through Gann Analysis

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Infosys : Predicting through Gann Analysis

Infosys fourth quarter net profit rose slightly higher-than-expected 3 percent year-on-year (1 percent quarter-on-quarter) to Rs 2,394 crore, helped by higher other income and lower income tax expenses.

The above result was declared on 12th of April and as a result we saw the 20% fall on single day in this stock though the results were positive. Is this fall predictable?

Using Technical analysis and Advance technical concepts such as Gann Analysis it was easy for us to predict the fall and to predict future movements of this stock.

Infosys Daily Chart


Analysis:

As seen in the above daily chart of Infosys, we can observe that prices have made a double top formation and gave bearish break out which dragged the prices lower soon after results were declared and the stock tanked 20% on that day. The stock price further moved lower and made a low of 2186 in late April 2013.

In the month of May the stock moved up and on the day when Mr. Murthy was given a call to join back Infosys the stock opened with a gap up. The gaps and the long body candle itself has a hint to predict the future movements of the stock. Infosys has managed to protect the previous lows and can move back till ….. level as far as ….. level is protected on downside.


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