EquityPandit’s Outlook for Infosys for the week (May 02, 2016 – May 06, 2016):

INFOSYS:

INFY closed the week on absolutely flat note.

As we have mentioned last week that the stock has closed around the resistance zone of 1200 to 1210 where trend-line joining earlier highs is positioned. If the stock manages to close above these 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. During the week the stock manages to hit a high of 1242 and close the week around the levels of 1208.

Minor support for the stock lies in the zone of 1185 to 1195. If the stock manages to close below these levels then the stock can drift to the levels of 1130 to 1150 where short term moving averages, 100 & 200 Daily SMA is lying.

The stock has closed around the resistance zone of 1200 to 1210 where trend-line joining earlier highs is positioned. If the stock manages to close above these levels then the stock can move to the levels of 1250.

Broad range for the stock in the coming week is seen between 1170 to 1180 on downside to 1230 to 1240 on upside.