Infosys shares Q4 results 2024 are looking weak on a sequential basis, say experts
Stock market today: Infosys share price today is in ₹1,370 to ₹1,450 per share range
Stock market today: Following the release of Q4 2024 data, Infosys shares experienced some selling pressure on Friday morning. The price of Infosys shares began 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.
Stock market analysts claim that Infosys’ Q4 2024 earnings did not provide a growth roadmap. Due to a bad quarterly result on a sequential basis, the company was unable to sustain a favorable business view in its guidance. They did note, though, that the IT major has developed a solid transaction pipeline, which is anticipated to include workforce attrition in FY25. Given that the price of an Infy share is currently between ₹1,370 and ₹1,450 per share, they recommended Infosys shareholders maintain a strict stop loss at ₹1,370 per share. They argued that if one breaks out of either side of the range, one can presume a bullish or bearish trend.
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Infosys Q4 Results 2024
Sandeep Pandey, the founder of Basav Capital, commented on Infosys Q4 results 2024, saying, “On a QoQ basis, Infosys Q4 results can be termed as a weak one despite a strong deal pipeline expectations.” It is important to remember, though, that the market had already discounted the anticipated poor Q4 performance for 2024 and was not anticipating particularly impressive Q4 earnings from Infosys. The drawback appears to be minimal. At one point, the share price of Infosys ADR on the US stock market dropped by eight percent, but it has since rebounded.”
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.”
In response to a query from new investors, Sumeer Bagadia advised them to hold off till the resistance level of ₹1,450 per share was broken.
“My suggestion to the Infosys shareholders is to hold the scrip with the stop loss. If the stop loss triggers, they should wait for the ideal entry-level as stop loss trigger would mean more downside possibility in Infosys shares,” said Sandeep Pandey.
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