Persistent Shares Slip Below ₹5,000: Technicals Suggest Near-Term Weakness

Shares of Persistent Systems climbed over 2% on Friday, rebounding from early losses. The stock has been in a downtrend, dragged by concerns over the Trump administration's decision to impose a $100,000 fee on new H-1B visa applications. 

Over the past month, Persistent shares have declined 6%. SEBI-registered analyst Sudhansu Sekhar Panda, Founder of Bluemoon Research & Financial Services, has warned of further downside in the near-term. 

Technical View

Panda noted that the stock recently broke its key support at ₹5,000 and slipped to ₹4,800, indicating short-term weakness on the daily technical chart. He added the stock could fall further by 200–400 points, with the next demand zone seen between ₹4,300 and ₹4,500. 

However, he said that while the near-term outlook appears weak, the long-term picture remains positive, with the potential for a fresh upward move toward ₹5,200–₹5,800 once the price stabilizes around support near ₹4,200.

Brokerage View

CLSA maintained its positive stance on Persistent Systems, calling it one of its top picks in the Indian IT sector. 

The brokerage said Persistent continues to benefit from steady technology demand, stable margins, and a favorable long-term growth outlook as global peers such as Accenture reported a stable demand environment in the latest quarter.

Impact of H-1B Visa Shock 

The company, which generates a significant portion of its revenue from the U.S. market, stated that it does not anticipate any material financial impact from the new visa rule.

The U.S. government has clarified that the new visa fee applies only to new H-1B applications filed after September 21, and not to renewals or existing petitions, easing investor concerns over potential near-term disruption.

What Is The Retail Mood?

On Stocktwits, retail sentiment was 'bearish' amid 'normal' message volume.

Persistent Systems' stock has declined 23% so far in 2025.

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