Infosys: Rs 1,178.50 close, 20% above exit; hold, no add

Infosys [][***** closed at Rs 1,178.50 on StockGro’s 3:59 PM IST print on 30 October, up 3.3 percent from Rs 1,140.57. That is 20 percent above my Rs 980.30 exit and above the Rs 1,156 resistance, the 1 September close. I found no company-specific cause for the 30 October move in any dated source. Since my 25 October post, the guidance and the PERM question have not moved. The FY27 guide is 1 to 2 percent, below my 1.5 percent floor. Management has not quantified its PERM exposure in any source I read. In October the company said the suspension would have no material impact. That is a statement, not a count. My view: hold, not a fresh entry. The second half stays off, because the guide failed the floor. The first-half zone is Rs 980 to 1,015, and the price is well above it, so fresh money waits there. A price above resistance is not a reason to add. My exit is a close below Rs 980.30, unchanged. The 30 October rally does not change it. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.