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Business News›Markets›Stocks›News›Stock Radar: 30% rally in 3 months! Infosys hits fresh record highs; time to buy or book profits?
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Synopsis
Infosys, a major IT player on the Sensex, has seen a remarkable 36% increase in its stock price from May 30th to August 30th, 2024. It has maintained a steady uptrend since surpassing its February 2024 high, consistently setting higher lows over the past 5 weeks. This momentum pushed the stock price beyond its previous peak of Rs 1,959, recorded in January 2022, signalling a potential for further upward movement.
Infosys Ltd, a part of the largecap IT space, has rallied over 30% in the last 3 months and the chart pattern suggests that the rally may not be over yet as there is considerable traction seen in IT stocks.Short-to-medium-term traders can look to buy the stock now for a target above 2,300 levels in the next 2-4 months, suggest experts.The largecap IT stock, which is also part of the S&P BSE Sensex index, rose from Rs 1,419 as of 30th May 2024 to
BY
Ksh*tij Anand
ETMarkets.com
3 mins read, Last Updated:
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