LTIMindtree gained after bagging a $450-million AI-led contract, its biggest ever, sparking optimism about future growth. Technical analyst Priyank Sharma noted a bullish setup forming, with ₹4,483 acting as a key support.
LTIMindtree shares gained for a second straight session after the company announced its largest-ever contract — a $450 million multi-year deal centered around artificial intelligence with a global agribusiness giant.
The announcement marked a pivotal moment for the company, reinforcing investor confidence in its digital capabilities and long-term growth outlook.
The stock jumped nearly 7% on the day of the announcement and extended its gains the following session, reversing some of its year-to-date losses.
SEBI-registered analyst Priyank Sharma observed that the stock had been moving in a broad sideways range between ₹3,800 and ₹6,450 since March 2022.
However, it recently attempted to break out of this range, with ₹4,483 emerging as a critical support level.
Sharma highlighted this level as a base for potential upside, noting that the stock had also surpassed its March 2024 weekly high — shifting its short-term structure to bullish.
Resistance levels were pegged at ₹5,650 and ₹6,450, while a weekly close below ₹4,200 would negate the bullish view.
Sharma concluded that the overall technical pattern supported a positive bias as long as the ₹4,483 support held firm.
Retail sentiment on Stocktwits for this counter has turned ‘bullish’ from ‘bearish’ a week ago.
LTIMindtree shares have fallen 10% year-to-date (YTD).
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