EquityPandit’s Outlook for Infosys for the week (June 06, 2016 – June 10, 2016):

INFOSYS:

INFY closed the week on positive note gaining around 1.60%.

As we have mentioned last week that resistance for the stock lies in the zone of 1265 to 1270 where the stock has made a high in the month of April – 2016. The stock has broken out of multi-month consolidation so virtually no resistance lies. During the week the stock manages to hit a high of 1279 and close the week around the levels of 1267.

Support for the stock lies in the zone of 1200 to 1210 where trend-line joining earlier highs is positioned. If the stock manages to close below these levels then the stock can drift to the levels of 1170 to 1180 where short term moving averages are lying.

Resistance for the stock lies in the zone of 1270 to 1275 where the stock has made a high in the month of April – 2016. The stock has broken out of multi-month consolidation so virtually no resistance lies. If the stock manages to close above these levels then the stock can move to the levels of 1300.

Broad range for the stock in the coming week is seen between 1220 to 1230 on downside to 1280 to 1300 on upside.