Multibagger Stock – Why Infosys is Up 80% In A Year!

elliott wave infosys multibagger stock Aug 18, 2021

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Infosys has touched a new lifetime highs today and has hit the target of our Multibagger stock recommendations.

We had recommended to buy Infosys in our Multibagger stock report back in July 2020 around 870-960 levels! Below shows a detailed chart and analysis that the stock followed.

Infosys Daily chart: (Buy Given near 870-960 range) in July 2020

Multibagger stock recommendation on 28th July 2020: Infosys

Buy Price – Buy at CMP 960 and more on dips to 870

Time Horizon – 2 -3 years

Investment – 5% of capital

Target price – 1750 levels

Stop loss - 600

Refer detailed research below

Following relative comparative chart was published in Multibagger research report -

IT sector comparative chart:

Infosys weekly chart: - log Scale as published on 28th July 2020

Infosys weekly chart: - Arithmetic Scale as published on 28th July 2020

Following was mentioned on 28th July 2020 in our Multibagger research report -

Nifty IT has shown a huge outperformance over past one month and this can be seen from the IT sector chart. Here we can see IT and Auto as outperformer and it is after many years of consolidation Infosys in this sector has started showing outperformance. This stock can have long way to go from here on.

Elliott wave perspective: It has shown an impulsive rise. As per wave perspective corrective wave (2) which was forming a Diametric pattern has been terminated near 450 levels and near channel support. Currently we are moving in strongest and longest wave (3). So we are moving in very powerful and impulse wave (3) which could take prices towards 1750 or higher levels which is the upper trendline of the channel.

We are showing both the arithmetic and logarithmic charts. During such big moves the entire perception and interpretation changes and so it is best to look at the charts on both the scales with projection on the log scale. The rise seen on arithmetic is clearly showing power of 3rd wave and it will have long way to go if the entire wave (2) was indeed a running correction.

In a nutshell, it is ideal time to start accumulating IT stocks. As mentioned earlier the target for this stock comes to around 1750 on the upside. The rise has been impulsive in nature. The trend for Infosys is positive as long as 600 levels remain intact on downside. Buying can be done in staggered fashion towards 870 levels in this stock! BANG ON!

Happened: Infosys has hit our target of 1750 almost within a year giving more than 82% returns.

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