Infosys Technical Analysis #5: Buy | Target Rs 735 | Arijit Banerjee


Buy Range650 – 670
Target710 – 735
Duration40 – 50 Trading Sessions
Potential Return^11 – 15%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
661.05BUY650 – 670710 – 73563040 – 50 Trading Sessions11 – 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#


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
52W High754.9
52W Low478.53
Face Value5
Relative Performance_Infosys vs Nifty IT Index


  • 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.
Infosys Chart
Infosys Chart


1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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