Shares of Indian software services exporter Infosys rose as much as 1.86 percent to record high of Rs 1,467.9.
At 1.22 pm, Infosys shares quoted at Rs 1451.55, up 0.80 percent, adding Rs 11.55 to the stock’s value.
The stock breaks above a resistance at Rs 1,436.6, the 76.4 percent Fibonacci projection level of the uptrend from October 5, 2012 low to June 3, 2016 high.
Breakout suggests stock may now move up to the next resistance at Rs 1,512.95, the 86.4 percent projection level.
Trend Intensity (TI) indicator rises to 25, suggesting prices are trending upwards, MACD is positive and above its signal line.
The stock has been up 58.75 percent in the last one year as of Friday’s close, outperforming the 17.77 percent gains for the broader NSE Index.
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