EquityPandit’s Outlook for Infosys for the week (April 04, 2016 – April 08, 2016):

INFOSYS:

INFY closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the range of 1200 to 1210 where trend-line joining earlier highs is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1250 and the stock will breakout out of the 1 year consolidation range of 1000 to 1200. During the week the stock manages to hit a high of 1237 and close the week around the levels of 1206.

Minor support for the stock lies in the zone of 1170. Support for the stock lies in the zone of 1155 from where the stock has broken out of the short term top. If the stock manages to close below this levels then the stock can drift to the levels of 1130 to 1140 where short term moving averages are lying.

Resistance for the stock lies in the range of 1200 to 1210 where trend-line joining earlier highs is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1250 and the stock will breakout out of the 1 year consolidation range of 1000 to 1200.

Broad range for the stock in the coming week is seen between 1160 to 1170 on downside to 1230 to 1240 on upside.