Infosys shares: In the early hours of Friday morning, Infosys shares experienced considerable selling pressure following the release of the Q4 results for 2024. The price of Infosys shares begun the day on the NSE with a gap down at ₹1,385 a share, and shortly after the opening bell, the share price reached an intraday low of ₹1,378.75. The Indian IT firm did, however, experience buying interest at cheaper prices and was able to reclaim the ₹1,400 thresholds.
According to stock market experts, Infosys’ Q4 results in 2024 failed to provide a roadmap for growth. The company failed to maintain a good business perspective in its guidance by reporting a disappointing quarterly figure on a sequential basis. However, they stated that the IT major has developed a robust transaction pipeline, which is projected to reduce employee attrition in FY25. They urged Infosys shareholders to maintain a rigorous stop loss at ₹1,370 per share since the current Infy share price ranges from ₹1,370 to ₹1,450. They stated that the breakage of either side of the range can signal a bullish or bearish trend.
Q4 Results of Infosys 2024
Sandeep Pandey, Founder of Basav Capital, commented on Infosys Q4 results 2024, saying that on a QoQ basis, Infosys Q4 results can be described as disappointing, notwithstanding robust deal pipeline forecasts. However, it should be noted that the market did not expect extraordinary Infosys Q4 results and had already discounted the predicted mediocre Q4 results in 2024. As a result, the risk appears to be modest. Even Infosys ADR’s share price on the US stock market recovered after falling almost 8% at one point.
Sumeet Bagadia, Executive Director at Choice Broking, commented on significant levels of Infosys shares: The Infy share is encountering resistance at ₹1,450 per share, while Infosys shares have formed a solid base at ₹1,370 apiece.” Thus, it may be inferred that the current price of Infosys shares is between ₹1,370 and ₹1,450 per share. When one side of the range breaks, one can infer either bullish or bearish tendencies. Thus, it is recommended that Infosys owners hold the scrip while keeping their stop loss at ₹1,370 per share.”
Sumeer Bagadia recommends waiting for the ₹1,450 per share resistance to be broken on a closing basis to make a new investment.
My recommendation to Infosys shareholders is to keep the stock with a stop loss. If the stop loss activates, they should wait for the best entry point, since a stop loss trigger would signal further downside risk for Infosys shares, said Sandeep Pandey.
Also Read: Just Dial shares
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
