INFOSYS: Predicting Through Gaps Anticipated Happened

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Infosys Results were declared where its ' second quarter net profit grew 1.4 percent quarter-on-quarter (1.6 percent year-on-year) to Rs 2,407 crore for the quarter ended September 2013, impacted by one-time visa settlement charge of Rs 219 crore. Consolidated quarterly revenue jumped 15 percent sequentially (31.5 percent year-on-year) to Rs 12,965 crore, with the company attributing it to robust volume growth, stable pricing and strong client addition during the growth. The company, like most exporters, also benefitted from the weakness in the rupee during the quarter. The company said average rupee-dollar rate during the quarter was 62.77.

After announcing the results the stock price of Infosys way up by 7.5% in the early hours of trade. All this was just because of good results or there was already a cause followed by its effect?

On 3rd of August 2013 we had published an article on Infosys: Predicting through Gaps in which we had mentioned, “Prices have taken out its previous high of 3000. This is an important high as prices were moving in a range of 2100-3000 from past 2 years.

We have predicted the target for this particular stock with the help of Gap analysis which is a very important technique to forecast. In the last month Infosys declared good results which took stock prices higher by opening with a gap up, thus achieving our mentioned level of 2800. Now again there is a gap and with the help of it we can say that prices now can move till 3300-3350 over short term.”

We were very accurate in mentioning the levels way back by using advance technicals like Gann Analysis which is very useful in forecasting the future. Once the results were announced Infosys moved higher above 3300 and made a high of 3338 thus achieving our mentioned level of 3300-3350 levels.

Infosys Anticipated Happened Daily chart




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