OUR RECOMMENDATION
| CMP# | 661.05 |
| Idea | BUY |
| Buy Range | 650 – 670 |
| Target | 710 – 735 |
| StopLoss* | 630 |
| Duration | 40 – 50 Trading Sessions |
| Potential Return^ | 11 – 15% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 661.05 | BUY | 650 – 670 | 710 – 735 | 630 | 40 – 50 Trading Sessions | 11 – 15% |
# CMP on Nov 29, 2018
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 704.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Founded in 1981, Infosys is a global service provider of IT Consulting and business process service. Headquarter in Bengaluru, their clientele spans over 50 countries having a range of products used for Financial Services, Manufacturing, Healthcare, Logistics, Energy & Utilities etc. The company reported a standalone net profit of Rs 4110 crore for the Q2FY19, compared to Rs 3726 crore reported during the corresponding period of 2017-18.
| Stock Data | |
| NSE Code | INFY |
| Sector | IT |
| 52W High | 754.9 |
| 52W Low | 478.53 |
| Face Value | 5 |
TECHNICAL OBSERVATIONS (DAILY)
- Technically the stock had been moving in a higher top and higher bottom formation in last 4 days indicating positive bias.
- After a consistent downtrend in the last 35 days, the stock price has shifted into a sharp upside bounce in the last 3 days.
- The stock broke out of the falling resistance line on the back of huge volumes. This indicates that the stock looks set to continue the next leg of its uptrend.
- The price closed above 10 and 20 days Moving Average crossover which considered bullish and help to propel further upside movement.
