Infosys, Tech Mahindra, LTIMindTree: IT stocks to trade — price target, stop loss & more
An analyst from YES Securities said that Infosys has given breakdown from its rising trendline on a daily timeframe, indicating a bearish trend, with selling pressure intensifying.
- Apr 23, 2026,
- Updated Apr 23, 2026 8:52 AM IST
Indian equity benchmark indices settled lower on Wednesday on the back of risk-off sentiments, despite ceasefire extension between the US and Iran, which kept investors cautious. The BSE Sensex tanked 756.84 points, or 0.95 per cent, to close at 78,516.49, while NSE's Nifty50 tumbled 198.50 points, or 0.81 per cent, to end at 24,378.10 for the day.
Select buzzing IT stocks including Infosys, Tech Mahindra and LTIMindTree are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
LTIMindTree | Buy | Target Price: Rs 5,000 | Stop Loss: Rs 4,400
Despite a recent pullback from its peak of 4784, LTIMindTree Ltd continues to offer a buying opportunity as it finds strong support in the Rs 4,400–4,430 zone. This area is technically significant, marked by the previous swing low and the presence of the 20‑day SMA, highlighting strong demand at lower levels. The bullish outlook is further supported by the formation of higher tops and higher bottoms on the weekly chart over the past four consecutive weeks, indicating a well‑established uptrend. From a trading perspective, dips toward the identified support zone can be used as a strategic entry opportunity, with an upside target in the Rs 5,000–5,100 range. A stop loss can be maintained at Rs 4,250 to manage downside risk effectively.
Infosys | Sell | Target Price: Rs 1,200 | Stop Loss: Rs 1,335
On a daily timeframe, Infosys Ltd has given breakdown from its rising trendline, indicating a bearish trend. Selling pressure appears to be intensifying below the Rs 1,255 support level. The price is currently trading below major SMAs further confirming weakness. Moreover, the MACD line is in negative territory, reinforcing the bearish sentiment. A sell position in Infosys is recommended on a pullback towards Rs 1,290 with a target price of Rs 1,200 and a stop-loss order at Rs 1,335 on a closing basis.
Tech Mahindra | Caution | Resistance: Rs 1,540 | Support: Rs 1,350
Following its pullback rally from Rs 1,304 to 1,531, Tech Mahindra Ltd has entered a profit‑booking–led pullback, indicating a phase of consolidation. It now faces a crucial resistance zone at Rs 1,530–1,540, and a sustained breakout above this range will be essential to confirm a continuation of bullish momentum. On the downside, the key support level to monitor lies in the Rs 1,360–1,350 zone. A breakdown below this area could accelerate weakness, potentially dragging the stock back toward the Rs 1,300 levels.
Indian equity benchmark indices settled lower on Wednesday on the back of risk-off sentiments, despite ceasefire extension between the US and Iran, which kept investors cautious. The BSE Sensex tanked 756.84 points, or 0.95 per cent, to close at 78,516.49, while NSE's Nifty50 tumbled 198.50 points, or 0.81 per cent, to end at 24,378.10 for the day.
Select buzzing IT stocks including Infosys, Tech Mahindra and LTIMindTree are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
LTIMindTree | Buy | Target Price: Rs 5,000 | Stop Loss: Rs 4,400
Despite a recent pullback from its peak of 4784, LTIMindTree Ltd continues to offer a buying opportunity as it finds strong support in the Rs 4,400–4,430 zone. This area is technically significant, marked by the previous swing low and the presence of the 20‑day SMA, highlighting strong demand at lower levels. The bullish outlook is further supported by the formation of higher tops and higher bottoms on the weekly chart over the past four consecutive weeks, indicating a well‑established uptrend. From a trading perspective, dips toward the identified support zone can be used as a strategic entry opportunity, with an upside target in the Rs 5,000–5,100 range. A stop loss can be maintained at Rs 4,250 to manage downside risk effectively.
Infosys | Sell | Target Price: Rs 1,200 | Stop Loss: Rs 1,335
On a daily timeframe, Infosys Ltd has given breakdown from its rising trendline, indicating a bearish trend. Selling pressure appears to be intensifying below the Rs 1,255 support level. The price is currently trading below major SMAs further confirming weakness. Moreover, the MACD line is in negative territory, reinforcing the bearish sentiment. A sell position in Infosys is recommended on a pullback towards Rs 1,290 with a target price of Rs 1,200 and a stop-loss order at Rs 1,335 on a closing basis.
Tech Mahindra | Caution | Resistance: Rs 1,540 | Support: Rs 1,350
Following its pullback rally from Rs 1,304 to 1,531, Tech Mahindra Ltd has entered a profit‑booking–led pullback, indicating a phase of consolidation. It now faces a crucial resistance zone at Rs 1,530–1,540, and a sustained breakout above this range will be essential to confirm a continuation of bullish momentum. On the downside, the key support level to monitor lies in the Rs 1,360–1,350 zone. A breakdown below this area could accelerate weakness, potentially dragging the stock back toward the Rs 1,300 levels.