EquityPandit’s Outlook for Infosys for the week (September 28, 2015 – October 02, 2015):
INFOSYS (NSE: INFY) closed the week on positive note gaining more than 3%.
As we have mentioned last week that 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. During the week the stock manages to hit a high of 1152 and close the week around the levels of 1140.
Support for the stock lies in the range of 1100 to 1120 from where the stock has broken out. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 1060 to 1080 where 100 Daily SMA is lying.
The stock is in strong uptrend. If the stock manages to close above the levels of 1155 then the stock can move to the levels of 1180 to 1200.
Broad range for the stock in the coming week is seen between 1100 to 1120 on downside to 1180 to 1200 on upside.