Infosys hits over 2-week high; technicals suggest end of downtrend

Last Updated: Fri, Nov 25, 2016 11:47 hrs
Infosys

** Shares of IT services provider Infosys Ltd gain 5.9 pct to 985 rupees, its highest since Nov. 8, and up from a year-low of 901 rupees hit on Nov. 17

** Stock sees break out above its descending trend channel along with a cut above its 20-day simple moving average(SMA)

** Stock price crossed above its parabolic SAR on Thursday, suggesting reversal in downtrend

** Falling Trend Intensity indicator (TI) suggests weakness in its downtrend

** MACD has cut above its signal line, also seen positive for the stock

** Nifty IT index up 4.45 pct as IT companies expected to benefit from falling rupee, which is trading close to record low of 68.86



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