Technical Analysis – Infosys
Infosys sustained to sketch a new life-time peak last week and closed by expanding 2.3 per cent. The stock moved higher in line with our anticipation and achieved first target of Rs 3,420 and is heading towards Rs 3,512. However, the daily and weekly relative strength indices have entered into overbought territory, implying caution over the days ahead.
Medium and long-term trends are pointing upwards for the stock and it can rally to Rs 3,781 or Rs 4,470 in the next 12 months.
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