EquityPandit’s Outlook for Infosys for the week (October 12, 2015 – October 16, 2015):

INFOSYS:

INFOSYS  (NSE: INFY) closed the week on week note losing around 0.50%.

As we have mentioned last week that the stock has hit a trend-line which was created by joining the earlier highs. So resistance for the stock can be in the range of 1190 to 1200 levels. If the stock manages to close above the levels of 1200 then the stock can move to the levels of 1230. During the week the stock manages to hit a high of 1192.55 and sold off to the levels of 1126. The stock close the week around the levels of 1167.

On 12/10/2015, the company is releasing the quarterly and half yearly results.

Support for the stock lies in the range of 1130 to 1140. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 1100. Below the levels of 1100 the stock can drift to the levels of 1060 where 100 & 200 Daily SMA are positioned.

The stock has hit a trend-line which was created by joining the earlier highs. So resistance for the stock can be in the range of 1190 to 1200 levels. If the stock manages to close above the levels of 1200 then the stock can move to the levels of 1230.

Broad range for the stock in the coming week is seen between 1120 to 1140 on downside to 1200 to 1220 on upside.