EquityPandit’s Outlook for Infosys for the week (September 21, 2015 – September 25, 2015):
INFOSYS (NSE: INFY) closed the week on positive note gaining more than 1%.
As we have mentioned last week that 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. The stock manages to hit a high of 1118 during the week and close the week around the level s of 1104.
Support for the stock lies in the range of 1070 to 1080 where short term moving averages are lying. If the stock moves below this levels on closing basis then the stock can drift to the levels of 1040 to 1050 where trend-line support for the stock lies.
Resistance for the stock lies in the zone of 1110 to 1120. If the stock closes above this levels then the stock can move to the levels of 1140 to 1150.
Broad range for the stock in the coming week is seen between 1060 to 1070 on downside to 1140 to 1150 on upside.