Know the price target for Infosys and Maruti share for next week

 

Infosys & Maruti: Share Price Target for Next Week- Indian markets closed in a strong note last week. Buying witnessed mainly on the large-cap stocks, midcap stocks underperformed last week. On 2nd October we have recommended four stocks, TCS, Hero Motorcorp, HDFC, and IndusInd Bank for the week. All the stocks achieved the target and gained 5 to 11% last week. You can read our last week’s report here.

This week we have analyzed two more Nifty50 stocks you can purchase for the short term to earn 5-10% profit.

 

Infosys share price target- Rs 1160 | NSE CMP -Rs 1106 | As on  09/10/2020

 

The IT major Infosys is the best stock to buy in the Nifty 50 index for the next week. The current share price of Infosys is Rs 1106 up 1.2% on Friday, 9th October. The Infosys share price has gained 8.76% in the last week and 40.2% on a yearly basis. It has touched Rs 1124 as a 52-week high and Rs 509.25 as a 52-week low.

Last week the company was in the news of acquiring Blue Acron iCi for Rs 915 cr, a digital customer experience, commerce, and analytics service provider. Infosys will announce its second-quarter earnings on the 14th of October.

 

 

According to MACD analysis, the MACD line is at 34.12 and the Signal line is 25.86. The share price of Infosys is showing technically strong and bullish in MACD analysis. As per the exponential moving average (EMA), Infosys is trading above all key EMAs and is in a strong uptrend. One can buy Infosys with the support of Rs 1052-1023-968.

According to the Fibonacci retracement, the Infosys price is trading above all levels. It has major support at Rs 1043-1018 and a trader can buy with the first target of Rs 1124. 

Stock Recommendations: An investor can buy Infosys share at the current price for the first target of Rs 1124 with the stop loss of Rs 1052 and can carry forward the position with a trailing stop loss for 5-10% upside in 10 to 15 days time horizon.

 

Maruti Suzuki share price target Rs 7349  | NSE CMP- Rs 7062.40 | As on 09/10/2020

 

India’s largest carmaker Maruti Suzuki India Ltd can be the best bet for the short term. The current market price of Maruti Suzuki is Rs 7062.40 in NSE, 0.25% down on 9th October. The share price of Maruti Suzuki gained 3.92% on a weekly and 6.52% on a yearly basis. The Maruti Suzuki share price has touched a 52-week high at Rs 7758.7 and a low at Rs 4001.1.

Last week Maruti Suzuki has reported that its total production has increased by 25.63% in September to 1,66,086 units. This is as against the production of 1,32199 units in the same period last year. The sales are expected to increase during the festive season.

 

 

According to the MACD analysis, the MACD line is at 33.1, and the signal line is -4.98. The Maruti Suzuki share price is looking technically strong. According to the exponential moving average analysis, Maruti Suzuki is in strong uptrend and has a support of 6902-6868-6731.

According to the Fibonacci retracement, the Maruti Suzuki share price is trading above all levels. It has got major support at 6503.96 and resistance levels at 7349.9. 

Stock Recommendations: An investor can buy the share of Maruti Suzuki for the target of 7168-7349 with the stop loss of 6902 for 10-15 days period. One can buy the share for short to medium term with the trailing stop loss.

 

Conclusions:

We recommend buying the above share only if the market gets open in positive notes on Monday. You can also read our “key factors to impact the market next week’ on our website on 11th October.

 

You can also read, Algo Trading Definition: Pros and Cons of Algorithmic trading

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The market closed higher, Nifty midcap 100 underperformed

 

Happy Investing !!

Editor’s Desk

 

Disclaimer-

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