Buy Infosys, target Rs 1343: Hadrien Mendonca

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.

Hadrien Mendonca

Infosys has been showing immense strength and continues to maintain its higher top higher bottom structure. Infosys has broken out from a two-week consolidation pattern on the daily chart.

The relative strength also indicates the stock has the ability to carry forward the current momentum. The 50-DEMA has proved to act as a strong support every time the stock has declined.

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.