INFOSYS

Published: Thu, 04/13/17

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The Complete Market Analysis
Dear ,

THE DAY INFOSYS DECLARES RESULTS THERE IS A LOT OF EMOTION IN THE MARKET. SO I TAKE A LOOK.



The Long term wave count of Infosys has not changed. In fact today the stocks did not give the big up down moves we have seen on the day of the previous two results. This time it is a clear down down day so far. What needs to be emphasised is that the stock was falling with the rest of the sector for the last two weeks. Infosys kissed the long term wedge trendline from below in wave 2 and started wave 3 down. This has been my view for years that a long term 5th wave was completing and the above breaks mean it is complete. This combined with the weak dollar view that I have maintained all year long is a major headwind for tech stocks going ahead and will remain so. Add labour cost increases there is only one secular trend for this sectors big boys. Falling Operating margins every year. This has been true for more than a decade. A clear cut sign of deterioration. The street fancy for the stock has to do more with a lack of investment options and a company with a low floating stock that is hard to beat down.

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Rohit Srivastava
www.indiacharts.com
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