EquityPandit’s Outlook for Infosys for the week (September 14, 2015 – September 18, 2015):
INFOSYS (NSE: INFY) closed the week on positive note gaining more than 1.5%.
As we have mentioned last week that if the stock drifts below the levels of 1067 the stock can move to the levels of 1040 where upward moving trend-line for the stock is positioned but the stock manages to hit a low of 1052 during the week and bounced back to the levels of 1090.
Resistance for the stock lies in the range of 1110 and if the stock manages to close above the levels of 1110 the stock can move to the levels of 1140.
Support for the stock lies in the range of 1040 to 1050 where trend-line support for the stock lies. If the stock breaks below the levels of 1040 on closing basis the stock can drift to the levels of 1000 where 100 and 200 Daily SMA are positioned.
Broad range for the stock in the coming week is seen between 1040 to 1060 on downside to 1120 to 1140 on upside.