Bullish bells in Infosys

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Infosys is a global leader in providing next-gen digital services, consulting and outsourcing services to its clients across the globe. The company has an experience over three decades which has evolved with the industry by providing global standard services to its customers. The company is well-known for its digital transformation services with evolving changes in the industry with an AI-powered core that helps the company to evolve. With the difficulties faced in the banking industry, there is a need for transformation in the industry which are to be provided by the IT companies. Infosys being the global leader, is one of the major player for providing services to the banks.

The following chart of Ichimoku cloud indicator shows an upward trend for the stock as the formation of green cloud continues in an upward direction. The Chikou span line (lagging indicator) which is also portraying an upward trend for the stock as it can be seen rising. The conversion line is below the base line which indicates a buy signal for the stock as the price movement is depicting an upward trend.


The Company had written off its share of investment worth $4.5mn in an US startup Waterline Data which offers data discovery and data governance software to their clients with a self-service data catalog for them to understand the data. Also the company’s whistleblower investigation with the Securities and Exchange Commission (SEC) has concluded with an anticipation of no further action on the matter has helped it to continue its operations without any legal disruptions. The lockdown of the companies across the country due to the Coronavirus outbreak has caused the company to halt its operations and business travels. The company would be saving up on the discretionary funds as the restriction on travelling has been made strict by the government.

The Bollinger band chart along with the Parabolic SAR shows the change in the trend for the stock as it shows an upward trend which can be observed by the formation of the bullish candlesticks. The IT stocks have been withstanding the Coronavirus outbreak as the operations are being carried by the employees with the adoption of “work from home” culture.

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