EquityPandit’s Outlook for Infosys for the week (July 11, 2016 – July 15, 2016):

INFOSYS:

INFY closed the week on negative note losing around 1.20%.

As we have mentioned last week that resistance for the stock lies in the zone of 1180 1190 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1225 to 1235 where the stock has opened gap down on 09-06-2016. During the week the stock manages to hit a high of 1195 and close the week around the levels of 1158.

Support for the stock lies in the zone of 1140 to 1145 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1050 to 1060 where 500 Daily SMA is lying.

Resistance for the stock lies in the zone of 1180 1190 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1225 to 1235 where the stock has opened gap down on 09-06-2016.

Broad range for the stock in the coming week is seen between 1130 to 1140 on downside to 1180 to 1190 on upside.