EquityPandit’s Outlook for Infosys for the week (March 21, 2016 – March 23, 2016):

INFOSYS:

INFY closed the week on positive note gaining around 4.20%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 1129 and close the week around the levels of 1191.

Support for the stock lies in the zone of 1155 from where the stock has broken out of the short term top. 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 1150 to 1160 on downside to 1210 to 1220 on upside.