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Shares of India's second largest software services exporter Infosys Ltd gain as much as 1.6 per cent to a record high of Rs 766.95. The stock breaks above a resistance at Rs 759.8, the 50 per cent Fibonacci projection level of the uptrend from August 22, 2017 low to October 1, 2018 high.
A close above this 50 per cent level may lead to further gains towards the next resistance at Rs 798.33, the 61.8 per cent projection level. Trend intensity(TI) indicator rises to 32, suggesting prices are trending upwards; MACD is positive and above its signal line.
The stock was trading up 15.18 per cent this year as of last close, compared with the broader NSE index's 0.66 per cent gains in the same period.
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