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Business News/ Markets / Stock Markets/  Infosys shares trade lower after Q4 results 2024. Buy or sell?
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Infosys shares trade lower after Q4 results 2024. Buy or sell?

Infosys 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, say experts. (Photo: Reuters)Premium
Stock market today: Infosys share price today is in 1,370 to 1,450 per share range, say experts. (Photo: Reuters)

Stock market today: After the announcement of Q4 results 2024, Infosys shares witnessed some selling pressure in the early morning session on Friday. Infosys share price today opened a gapdown at 1,385 apiece on NSE and went on to touch an intraday low of 1,378.75 per share within a few minutes of the stock market's opening bell. However, the Indian IT major witnessed buying interest at the lower levels and regained the 1,400 mark.

According to stock market experts, Infosys Q4 results in 2024 failed to give a road map for growth. The company failed to maintain a positive business outlook in its guidance as it delivered a weak quarterly number on a sequential basis. However, they said that the IT major has managed to come up with a strong deal pipeline that is expected to contain employee attrition in FY25. They advised Infosys shareholders to maintain a strict stop loss at 1,370 apiece level as the Infy share price today is in the 1,370 to 1,450 per share range. They said that a bullish or bearish trend can be assumed on the breakage of either side of the range.

Infosys Q4 results 2024

Speaking on Infosys Q4 results 2024, Sandeep Pandey, Founder of Basav Capital said, “On QoQ basis, Infosys Q4 results can be termed as a weak one despite a strong deal pipeline expectations. However, one must note that the market was also not expecting spectacular Infosys Q4 results and it had already discounted the expected weak Q4 results 2024. So, the downside looks limited. Even Infosys ADR share price in the US stock market recovered after losing to the tune of 8 percent at one point in time."

On important levels regarding Infosys shares, Sumeet Bagadia, Executive Director at Choice Broking said, "Infosys shares have made a strong base at 1,370 apiece levels and the Infy share is facing resistance at 1,450 per share level. So, one can assume that Infosys share price today is in 1,370 to 1,450 per share range. Bullish or bearish trends can be assumed on the breakage of either side of the range. So, Infosys shareholders are advised to hold the scrip maintaining stop loss at 1,370 per share level."

On the suggestion to the fresh investors, Sumeer Bagadia said that one should wait for the breakage of 1,450 per share resistance on a closing basis.

"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.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 19 Apr 2024, 11:07 AM IST
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