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Infosys, Mphasis among 5 stocks with long buildup

Updated at : 2024-01-12 12:25:04

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The Relative Strength Index of the stock stood at 62.9 on Friday.

K Krithivasan says: "You cannot look at the deal wins in the same lens as revenue. It does not follow the same revenue trajectory because there is always a certain amount of lumpiness as a timing issue. You need to look at over a long period of time, over the last four quarters, how the deal wins have been very strong. And this quarter, it is not aided by any mega deals because mega deals tend to be lumpy and all come from mid-sized deals. We are very happy with what we achieved in terms of deal wins."

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

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The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide position limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

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Indian equity indices opened higher led by banking and IT stocks. Infosys and TCS were the top gainers, along with Wipro, Tech Mahindra, HCL Tech, and UltraTech Cement. On the other hand, M&M, Asian Paints, Bharti Airtel, HUL, and Power Grid opened lower. According to experts, the resilience in IT stocks and strength in Reliance will consolidate Nifty around 21600 levels. The US CPI inflation rising to 3.4% may delay the expected rate cut by the Fed in March, along with the rate cut by the MPC.

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