Synopsis : Synopsis: Post Q4 2024 results, Infosys shares drop, sparking investor interest. Analysis explores buy or sell decisions amidst selling pressure.
Today in the stock market, following the announcement of Infosys' Q4 results for 2024, the company's shares experienced selling pressure during the early morning session on Friday. Opening at Inr1,385 per share on the NSE, Infosys' share price took a gapdown and swiftly hit an intraday low of Inr1,378.75 per share shortly after the market's opening bell. Despite this initial dip, the Indian IT giant garnered buying interest at lower levels, pushing its share price back above the Inr1,400 mark.
Market analysts noted that Infosys' Q4 results for 2024 fell short of providing a clear growth trajectory. The company's weak quarterly performance on a sequential basis failed to sustain a positive business outlook in its guidance. However, experts pointed out that Infosys has built a robust deal pipeline, which is anticipated to mitigate employee attrition in FY25. They advised Infosys shareholders to maintain a strict stop-loss at Inr1,370 per share, considering the current share price range of Inr1,370 to Inr1,450 per share. They suggested that a bullish or bearish trend could materialize depending on whether this range is breached.
Regarding key levels for Infosys shares, Sumeet Bagadia, Executive Director at Choice Broking, remarked that the stock has established a strong support base at Inr1,370 per share, while encountering resistance at Inr1,450 per share. Thus, Infosys' share price today appears to be confined within the range of Inr1,370 to Inr1,450 per share, with potential shifts in market sentiment upon breaking either side of this range. Bagadia advised Infosys shareholders to maintain their positions while adhering to a stop-loss at Inr1,370 per share.
Offering guidance to new investors, Sumeer Bagadia suggested waiting for the Inr1,450 per share resistance to be breached on a closing basis.
"My advice to Infosys shareholders is to retain their holdings with a stop-loss strategy. In the event of a stop-loss trigger, they should await an optimal entry point, as such triggers indicate the possibility of further downside in Infosys shares," commented Sandeep Pandey.
