EquityPandit’s Outlook for Infosys for the week (April 11, 2016 – April 13, 2016):

INFOSYS:

INFY closed the week on negative note losing around 3.30%.

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 these 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 1248 and sold off to close the week around the levels of 1166.

Minor support for the stock lies in the zone of 1130 to 1140 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1100 to 1110 where 100 & 200 Daily SMA is 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 these 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 1130 to 1140 on downside to 1190 to 1200 on upside.