Buy Infosys, target Rs 1386: Hadrien Mendonca
If the stock manages to sustain above the Rs 1,275 which is the breakout zone on the monthly closing basis, that would trigger a multi-year breakout for Infosys, says Hadrien Mendonca of IIFL.
June 29, 2018 / 12:04 PM IST
8 | Infosys | Market Cap for the week ended October 30: Rs 4,51,753.23 crore crore | Loss during the week: 26,152.79 crore.
Infosys has been very stable and is gaining strength quite gradually. It continues to defy the heavy selling pressure that is seen across sectors which provides comfort.
In addition, if the stock manages to sustain above the Rs 1,275 which is the breakout zone on the monthly closing basis, that would trigger a multi-year breakout for Infosys. All the parameters at the current juncture merit a buy on the IT heavyweight.Disclaimer
: The author is Senior Technical Analyst, IIFL. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.