The following article contains Infosys Technical analysis in short.
Infosys show bullish patterns in 30 minute and 1-hour candle.
19th June have buy orders with high volume. The highest buy volume over 3m was traded on 19th June 2021. Although the pattern looks bullish, currently price action is in range bound.
Infosys moving average technical analysis looks bullish on 50, 100, and 200-day scale moving average.
RSI is close to an overbought range of 80 on a daily timeframe and hence, A short profit booking might come from the retail investor who is holding long on Infosys stock. RSI above 60% is considered bullish and below 30% bearish. Anything between is range bound.
Infosys VWAP range is above 1500, and Super trend range is 1489. The biggest support is at 1449 level. If Infosys falls below 1400 with hug volume, then trade with caution.
The stock is a good investment for the short term considering remote work culture during a pandemic.
Stocks have consistently outperformed bank FDs in terms of return on equity. Infosys derivative has highest volume contact at price Rs.1520, June 2021 expiry.
Infosys current market price is more than the intrinsic value. It rebounded from level 1515 on June 18th. To break 1515 level, it has to do it with high volume.
Infosys PE ration is Rs 33.01 and Earnings per share is Rs 45.54.
Infosys’s market competitors are Wipro, TCS, HCL Technologies, and Tech Mahindra. Infosys posted net profit of 4459.00 crore, and Ebidta is Rs 6,073.00Cr in March 2021 quarter. The preference for Infosys over TCS is based on the latter’s headroom for further growth potential, which was bolstered by latest result. Motilal Oswal has set target price to Rs 1600 as per latest reports.
Infosys has over 19000 graduates recruits in 2020-2021 year. It has highly diverse work culture and recently showcased Infosys Pride campaign 2021 .
Eight organizations have been blacklisted from the securities market by SEBI for engaging in insider trading in Infosys shares.