27 Sep 2020 ● 12:02 PM
After starting out on wave 5 tech stocks pulled back in minor wave ii of 5 during last week's correction to take support near the 20dma. In the case of Infosys the 20dma is at 965. This works as a support level. Wave iii from the low of 970 seen last week would either be equal or extended. 1100 is where it would be almost equal to wave I and if iii is 161.8% of I then the level is 1180. Wave 5 is not complete till 5 waves are complete or it truncates after the first wave. Once prices go past 1037 we are clearly extending in the 5th into 5 waves.