EquityPandit’s Outlook for Infosys for the week (April 18, 2016 – April 22, 2016):

INFOSYS:

INFY closed the week on positive note gaining around 0.60%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 1150 and close the week around the levels of 1173.

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.

The company has announced the quarterly results on 15/04/2016 and prima facie the results are seemed to be above expectation. The ADR of the stock was trading 8% higher.

Broad range for the stock in the coming week is seen between 1130 to 1140 on downside to 1190 to 1200 on upside.