EquityPandit’s Outlook for Infosys for the week (January 02, 2017 – January 06, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 2.20%.

As we have mentioned last week that resistance for the stock lies in the zone of 1000 to 1010 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1050 from where the stock has broken down in the month of October – 2016. During the week the stock manages to hit a high of 1012 and close the week around the levels of 1011.

Minor support for the stock lies in the zone of 990 to 1000. Support for the stock lies in the zone of 950 to 960 from where the stock has broken out of the consolidation zone. If the stock manages to close below these levels then the stock can drift to the levels of 920 to 930.

Resistance for the stock lies in the zone of 1000 to 1010 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1050 from where the stock has broken down in the month of October – 2016.

Broad range for the stock in the coming week is seen between 970 to 980 on downside to 1030 to 1040 on upside.