EquityPandit’s Outlook for Infosys for the week (August 22, 2016 – August 26, 2016):

INFOSYS:

INFY closed the week on negative note losing around 3.90%.

As we have mentioned last week that support for the stock lies in the zone of 1050 to 1055 where the stock has formed a short term bottom. If the stock manages to close below these levels then the stock can drift to the levels of 1000 to 1010 where the stock has made a bottom in the month of Nov – 2015. During the week the stock manages to hit a low of 1018 and close the week around the levels of 1021.

Support for the stock lies in the zone of 1000 to 1010 where the stock has made a bottom in the month of Nov – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 930 to 950 from where the stock has bounced in the month of July – 2015.

Minor resistance for the stock lies in the zone of 1050 to 1060. Resistance for the stock lies in the zone of 1100 to 1110. If the stock manages to close above these levels then the stock can move to the levels of 1140 to 1150 where 200 Daily SMA is lying.

Broad range for the stock in the coming week is seen between 1000 to 1005 on downside to 1050 to 1060 on upside.