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

INFOSYS:

INFY closed the week on positive note gaining around 7.20%.

As we have mentioned last week that support for the stock lies in the zone of 1040 where channel support for the stock is lying. If the stock closes below this levels then the stock can drift to the levels of 970 where medium term trend-line support for the stock is lying. During the week the stock manages to hit a low of 1031 and bounce on back of quarterly results to end the week around the levels of 1140.

Support for the stock lies in the zone of 1120 to 1125 where channel support for the stock is positioned. If the stock closes below this levels then the stock can drift to the levels of 1080 to 1100 where 100 Daily SMA is lying.

Resistance for the stock lies in the zone of 1155 to 1160. If the stock manages to close above this levels then the stock can move to the levels of 1200 where trend-line joining earlier highs is positioned.

Broad range for the stock in the coming week is seen between 1100 to 1120 on downside to 1160 to 1180 on upside.