EquityPandit’s Outlook for Infosys for the week (November 01, 2016 – November 04, 2016) :

INFOSYS:

INFY closed the week on negative note losing around 3.90%.

As we have mentioned last week that support for the stock lies in the zone of 1000 to 1010 where the stock has made a bottom in the month of Nov – 2015 and August – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 930 to 950 from where the stock has bounced in the month of July – 2015. During the week the stock manages to hit a low of 993 and close the week around the levels of 997.

The stock has closed below the major support zone of 1000 to 1010 where the stock has made a bottom in the month of Nov – 2015 and August – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 930 to 950 from where the stock has bounced in the month of July – 2015.

Minor resistance for the stock lies in the zone of 1020 to 1030. Resistance for the stock lies in the zone of 1050 to 1060 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 1080 to 1090 where medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 950 to 960 on downside to 1025 to 1035 on upside.