EquityPandit’s Outlook for Infosys for the week (November 16, 2015 – November 20, 2015):

INFOSYS:

INFOSYS  (NSE: INFY) closed the week on negative note losing around 3.30%.

As we have mentioned last week that the support for the stock lies in the zone of 1100 to 1120 from where the stock has broken out of consolidation and short term moving averages are positioned. If the stock breaks below this levels on closing basis then the stock can move to the levels of 1080 where 100 & 200 Daily SMA are positioned. During the week the stock manages to hit a low of 1090 and bounce to close the week around the levels of 1100.

Support for the stock lies in the zone of 1070 to 1085 where 100 & 200 Daily SMA are positioned. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 1045 where trend-line support for the stock is positioned.

Resistance for the stock lies in the zone of 1140 to 1150. If the stock closes above this levels then the stock can move to the levels of 1200 where trend-line joining highs are positioned.

Broad range for the stock in the coming week is seen between 1070 to 1080 on downside to 1130 to 1140 on upside.