EquityPandit’s Outlook for Infosys for the week (March 08, 2016 – March 11, 2016):

INFOSYS:

INFY closed the week on positive note gaining around 4.40%.

As we have mentioned last week that the resistance for the stock lies in the range of 1135 to 1145 where the stock has created the gap on 09-02-2016. 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. During the week the stock manages to hit a high of 1193 and close the week around the levels of 1171.

Support for the stock lies in the zone of 1110 to 1130 where short term moving averages and 100 Daily SMA is lying . If the stock manages to close below this levels then the stock can drift to the levels of 1060 to 1070 where 200 Daily SMA and channel support for the stock is lying.

Resistance for the stock lies in the range of 1200 where trend-line joining earlier highs is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1250 and the stock will breakout out of the 1 year consolidation range of 1000 to 1200.

Broad range for the stock in the coming week is seen between 1120 to 1130 on downside to 1200 to 1220 on upside.