Infy hits record high; climbs 8% in ten days

Infosys gained 0.53% to Rs 1504.95, extending its winning run to tenth consecutive trading session.

Shares of Infosys rallied 8.64% in ten trading days from its previous closing low of Rs 1385.20 on 4 June 2021. The counter hit a record high of Rs 1,515.95 in intraday today. The stock has surged 117.38% from its 52-week low of Rs 692.30 hit on 23 June 2020.

The stock has added 12.3% in the past one month compared with a 3% rise in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 78.452. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 1382.02 and 1351.35 respectively. These levels will act as crucial support zones in near term.

Meanwhile, the benchmark S&P BSE Sensex slumped 370.63 points or 0.71% to 51,952.70.

Infosys is a global leader in next-generation digital services and consulting. On a consolidated basis, Infosys reported a 2.3% decline in net profit to Rs 5,076 crore on 1.5% increase in revenues to Rs 26,311 crore in Q4 March 2021 over Q3 December 2020.

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