Stock Tips - Consider Infy For Short Term Gain

In the last quarter, Q2FY2012-13, Infosys reported a net profit of Rs 2369 crore, up 24% YoY, while revenue rose 21% YoY to 9,858 crores. The result was just in line with street expectation. However, it lowered its guidance on its EPS to disappoint the street.  Though the long term outlook is still in doubt, the current level may not be justified for the stock. When the Q3 result is awaited with in next few weeks, we believe that the stock will move upward. The technical is also supporting our opinion. Infosys stock price has hit two week’s high today.  As per RSI and slow stochastic, Infosys is in over sold region. Also, three side up candle stick pattern on 19^th, December, 2012 implies that the stock is on the verge of moving up. Our first target for the stock is 2390, followed by the second target 2450 in the next 2 to 4 weeks.

{fshare}

Tweet

{jcomments on}