EquityPandit’s Outlook for Infosys for the week (June 27, 2016 – July 01, 2016):

INFOSYS:

INFY closed the week on positive note gaining around 1.30%.

As we have mentioned last week that minor support for the stock lies in the zone of 1165. Support for the stock lies in the zone of 1135 to 1140 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. During the week the stock manages to hit a low of 1160 and close the week around the levels of 1195.

Minor support for the stock lies in the zone of 1165. Support for the stock lies in the zone of 1135 to 1140 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 1200 to 1210 where short 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 1150 to 1160 on downside to 1225 to 1232 on upside.