On October 11, 2023, at 16:00, Infosys shares are trading at ₹1935, reflecting a 0.83% increase from the previous closing price. While the Sensex is trading at ₹81381.36, showing a decline of 0.28%. Throughout the day, Infosys shares reached a high of ₹1946.9 and a low of ₹1909.9, demonstrating intraday volatility.
Technical Analysis
From a technical perspective, Infosys stock is trading favorably above various simple moving averages (SMA), including the short-term 5, 10, and 20-day SMAs, as well as longer-term averages of 50, 100, and 300 days. This indicates a strong bullish trend in the stock’s performance.
SMA Values
Details of the SMA values for Infosys will be essential for investors looking to understand price trends. Although specific values aren’t provided here, investors are encouraged to analyze them for strategic decision-making.
Support and Resistance Levels
According to classic pivot level analysis for a daily time frame, Infosys has key resistance levels at ₹1950.63, ₹1967.27, and ₹1987.53. Conversely, the critical support levels are noted at ₹1913.73, ₹1893.47, and ₹1876.83. Understanding these levels can help investors identify potential entry and exit points.
Trading Volume Insights
As of 4 PM today, the trading volume for Infosys on both NSE and BSE is down by 38.08% compared to the previous trading session. Trading volume is a crucial metric for assessing market trends; positive price movements coupled with higher volume often indicate a strong upward momentum. Conversely, if prices decline with increased volume, it may signal a potential downturn.
Current Market Sentiment
The overall sentiment surrounding Infosys, based on technical analysis, points to a robust bullish trend. This optimism can influence investor confidence and drive future performance.
Fundamental Analysis
From a fundamental analysis viewpoint, Infosys showcases a return on equity (ROE) of 32.08%, which is quite impressive. The current price-to-earnings (P/E) ratio stands at 29.85, while its price-to-book (P/B) ratio is recorded at 9.57. These ratios are critical for investors evaluating the stock’s valuation compared to its earnings and book value.
Future Predictions
The median one-year forecast for Infosys indicates an anticipated upside of 0.52%, positioning the target price at ₹1925. This projection offers insights into expected future performance and potential growth opportunities for investors.
Shareholding Insights
In terms of ownership, the company reports a 0.00% promoter holding, 15.90% mutual fund (MF) holding, and 32.73% foreign institutional investor (FII) holding based on filings from the June quarter. This diverse structure can impact stock performance and investor sentiment.
Recent Changes in Holdings
Notably, MF holding has seen a slight uptick from 15.35% in March to 15.90% in June, indicating growing institutional interest. In contrast, FII holding has decreased from 34.10% to 32.73% during the same period, signaling a cautious approach by foreign investors.
Market Comparison
Today, Infosys shares have increased by 0.83%, trading at ₹1935, amidst mixed performances among its peers. While Tata Consultancy Services has experienced declines, HCL Technologies, LTI Mindtree, and Tech Mahindra have shown upward trends. In summary, the benchmark indices, including Nifty and Sensex, are both facing slight decreases of -0.14% and -0.28%, respectively.
