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Stock Tips: Infosys shares at record high, invest in this stock with 23 percent rally in six months or not?

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Stock Tips: Infosys shares at record high, invest in this stock with 23 percent rally in six months or not?

Infosys has given good results in the last quarter. It may gain stability and strength in the coming days.

Shares of Infosys climbed two percent on Thursday (23 December2021) to reach a record high of Rs 1860. Earlier in intraday trading, it had reached a record high in October. During that time its stock had reached a new high of Rs 1848.25. However, this stock has seen an increase for the third consecutive day and so far it has increased by more than three percent. The stock of Infosys has gained 23 per cent in the last six months, while the Sensex has fallen by 2.2 per cent during this period.

Infosys has tremendous advantage of growth in IT sector

Vijay Dhanotia, Head of Technical Research, CapitalVia Global, says that being one of the leader companies in the IT sector, Infosys has benefited from the growth of this sector. There is continuous positive momentum in this sector and it will remain so. As far as Infosys is concerned, the main reason for this rise in its stock is its good revenue growth and stable margins.

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This stock may touch the level of 1930-1950 in a few weeks

Technical analysts say that the IT index of Nifty is currently at an all-time high. But Infosys has proved to be the strongest among all the IT stocks. Milan Vaishnav, Consulting Technical Analyst and Founder, Gemstone Equity Research & Advisory Services, says that any level from Rs 1845 in this stock can turn into a fresh breakout. He says that if this stock goes above 1845, then in the coming few weeks it can also achieve the level of 1930-1950. Pavitra Shetty, Co-Founder and Trainer, Tips2Traders says that technically 1805 is a strong support and closing above 1850 can reach Rs 1890 to 1895 in the coming weeks. Dhanotia says that Infosys has given good results in the last quarter. It may gain stability and strength in the coming days.

(Article: Surabhi Jain)

(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)

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