Infosys Limited Stock Forecast
Infosys Limited stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The Infosys Limited stock price gained 0.113% on the last trading day (Friday, 3rd May 2024), rising from ₹1,414.85 to ₹1,416.45. During the last trading day the stock fluctuated 1.51% from a day low at ₹1,403.10 to a day high of ₹1,424.30. The price has been going up and down for this period, and there has been a -0.29% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 76 thousand more shares were traded than the day before. In total, 362 thousand shares were bought and sold for approximately ₹512.68 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.68% during the next 3 months and, with a 90% probability hold a price between ₹1,104.46 and ₹1,198.87 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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INFY.BO Signals & Forecast
There are mixed signals in the stock today. The Infosys Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹1,426.83 and ₹1,498.45. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.344%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Infosys Limited stock
Infosys Limited finds support from accumulated volume at ₹1,414.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹21.20 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: ₹1,326.30 (-6.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (INFY.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Infosys Limited to open at ₹1,414.62, and during the day (based on 14 day Average True Range), to move between ₹1,390.41 and ₹1,442.49, which gives a possible trading interval of +/-₹26.04 (+/-1.84%) up or down from last closing price. If Infosys Limited takes out the full calculated possible swing range there will be an estimated 3.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,414.85 (0.11%) than the resistance at ₹1,420.55 (0.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Infosys Limited stock A Buy?
Infosys Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.981 Hold/Accumulate Upgraded
Predicted Opening Price for Infosys Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹1,414.62 ( 0.129%) | ₹1,416.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INFY.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,435.82 | 1.37 % | |
| R2 | 1,427.72 | 0.796 % | ||
| R1 | 1,422.72 | 0.442 % | ||
| Current price: | 1,416.45 | |||
| Support | S1 | 1,406.52 | -0.701 % | |
| S2 | 1,401.52 | -1.05 % | ||
| S3 | 1,393.42 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,508.85 | 6.52 % | |
| R2 | 1,468.30 | 3.66 % | ||
| R1 | 1,420.55 | 0.289 % | ||
| Current price | 1,416.45 | |||
| Support | S1 | 1,414.85 | -0.113% | |
| S2 | 1,414.75 | -0.120% | ||
| S3 | 1,411.60 | -0.342% |
INFY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jul 01, 2024 | ₹28.00 | 1.98% |
| 2 | Oct 25, 2023 | Oct 25, 2023 | Nov 06, 2023 | ₹18.00 | 1.28% |
| 3 | Jun 02, 2023 | Jun 02, 2023 | Jul 03, 2023 | ₹17.50 | 1.31% |
| 4 | Oct 31, 2017 | Oct 31, 2017 | Nov 04, 2017 | ₹13.00 | 2.81% |
| 5 | Jun 01, 2017 | Jun 01, 2017 | Jun 27, 2017 | ₹14.75 | 3.18% |
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