EquityPandit’s Outlook for Infosys for the week (April 25, 2016 – April 29, 2016):

INFOSYS:

INFY closed the week on positive note gaining 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 1268 and close the week around the levels of 1211.

Minor support for the stock lies in the zone of 1185 to 1195. If the stock manages to close below these levels then the stock can drift to the levels of 1130 to 1150 where short term moving averages, 100 & 200 Daily SMA is lying.

The stock has closed around the resistance zone 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 1150 to 1160 on downside to 1230 to 1240 on upside.