What to expect from Infosys shares? down by 12%
Infosys shares price: Support on the counter could be witnessed at about Rs 1,300.
Two of the critics suggested collecting it at current levels. One of them said that investors could purchase this share with a stop loss of Rs 1,250 for targets of up to Rs 1,450.
On the contrary, one more critic said that a day-to-day close below Rs 1,305 could lead to Rs 1,240 in the near term.
Also read: Read why Tupperware shares rose by 56%
Infosys shares resumed slide on Friday, pausing their two-day rise. Today’s share fell 1.28 per cent to hit a day low of Rs 1,335.55 over its last close of Rs 1,352.85. The scrip finally stood 0.92 per cent lower at Rs 1,340.35. This price has fallen more than 12 per cent on a year-to-date (YTD) basis.
Recently, the IT major split its full-year earnings growth outlook, resulting in a considerable share price drop. The firm cut its fiscal 2023 earnings prediction to 1 per cent-3.5 per cent on a regular currency basis from 4 per cent-7.
Vaishali Parekh, Vice-President – Technical Research at Prabhudas Lilladher, stated, “The stock has witnessed a steep fall post the resulting outcome. Near-term support is now visible at around Rs 1,300 level. The overall trend would turn positive only if a decisive breach above Rs 1,380 level is established and sustained.”
