EquityPandit’s Outlook for Infosys for the week (February 15, 2016 – February 19, 2016):

INFOSYS:

INFY closed the week on negative note losing around 8.00%.

As we have mentioned last week that the support for the stock lies in the zone of 1140 to 1150 where upper end of the channel support for the stock is positioned. If the stock closes below this levels then the stock can drift to the levels of 1100 where 100 Daily SMA is lying. During the week the stock manages to hit a low of 1067 and close the week around the levels of 1085.

Support for the stock lies in the zone of 1060 to 1070 where 200 Daily SMA and channel support for the stock is lying. If the stock manages to close below this levels then the stock can drift to the levels of 980 to 1000 where 500 Daily SMA and 100 Weekly SMA is lying.

Resistance for the stock lies in the zone of 1100 to 1110 where short term moving averages and 100 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 1130 where the stock has created the gap on 09-02-2016.

Broad range for the stock in the coming week is seen between 1050 to 1060 on downside to 1110 to 1120 on upside.