EquityPandit’s Outlook for Infosys for the week (December 14, 2015 – December 18, 2015):

INFOSYS:

INFOSYS  (NSE: INFY) closed the week on absolutely flat note.

As we have mentioned last week that the support for the stock lies in the zone of 1030 to 1040 where the stock has filled the gap which was created on 21/07/2015. If the stock closes below this levels then the stock can drift to the levels of 960 to 980 where 500 Daily SMA, 100 Weekly SMA and trend-line support for the stock is lying. During the week the stock manages to hit a low of 1022 and close the week around the levels of 1053.

Support for the stock lies in the zone of 1030 to 1040 where the stock has filled the gap which was created on 21/07/2015. If the stock closes below this levels then the stock can drift to the levels of 960 to 980 where 500 Daily SMA, 100 Weekly SMA and trend-line support for the stock is lying.

The stock has closed around the strong resistance zone of 1070 to 1090 where 100 & 200 Daily SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 1120.

The stock has formed a Hammer pattern on weekly charts in a downtrend indicating the exhaustion in selling pressure.

Broad range for the stock in the coming week is seen between 1030 to 1040 on downside to 1070 to 1080 on upside.