On QOQ basis the profit of Infosys raised 5% to 3606 crores and income raised 3.1% to Rs 16782 crore, the dollar revenue of the company stood at 258.7 crores up 3.4%.
Experts said that the Infosys growth is according to expectation but if we observe all standards the results are better than expectations. Although, the concern about business in US market has been increasing for Indian IT companies; which cannot be said a good indication. But in terms of valuation Infosys stock is looking good on the current level. However, the market will have the concern about guidance; So further the Infosys stock can swing between 1000-1200 levels.
At NSE the Infosys stock closed at 1019.90 down 2.18% touched high of 1072.80 and low at 986.00. The stock made 52-week low position today. Open interest position declined, the trend was selling.
if Open above:1024.00 it will take Resistance: 1032.02, 1040.06, 1048.14, 1056.25, 1064.39.
if Open above: 1016.02 it will take Support 1008.06, 1000.14, 992.25, 984.39, 976.56.
Infosys Option Call strike price 1020 Expiry 27 October 2016 Buy above: 19.78 Targets: 19.87, 19.96, 20.05 Stop loss: 19.69.