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Buy Infosys, target Rs 745: Hadrien Mendonca

In addition, the positive crossover on the relative strength index further accentuates our bullish stance on the stock, says Hadrien Mendonca of IIFL.

December 14, 2018 / 11:50 AM IST
Infosys | Company completed the acquisition of Blue Acorn iCi, an Adobe Platinum partner in the US. (Image: Reuters)

Infosys | Company completed the acquisition of Blue Acorn iCi, an Adobe Platinum partner in the US. (Image: Reuters)

 
 
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Hadrien Mendonca

Infosys has been consolidating for the past nine trading sessions and has finally broken out from Flag pattern on the daily chart. The breakout has been accompanied with a smart uptick in traded volumes.

In addition, the positive crossover on the relative strength index further accentuates our bullish stance on the stock.

The author is a Senior Technical Analyst, IIFL.

Disclaimer: 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.
Moneycontrol Contributor
first published: Dec 14, 2018 11:50 am

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