|Buy Range||650 – 670|
|Target||710 – 735|
|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#
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.
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.