EquityPandit’s Outlook for Infosys for the week (May 16, 2016 – May 20, 2016):

INFOSYS:

INFY closed the week on positive note gaining around 2.20%.

As we have mentioned last week that resistance 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 above these levels then the stock can move to the levels of 1250. During the week the stock manages to hit a high of 1217 and close the week around the levels of 1207.

Support for the stock lies in the zone of 1150 to 1170 where short term moving averages & 100 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1120 where 200 Daily SMA is lying.

Resistance 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 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 1160 to 1170 on downside to 1220 to 1230 on upside.